Leveraging Your Equity
According to John Burns Consulting , 58.7% of homes in the U.S. have at least 60% equity , and 42.1% of all homes in this country are mortgage-free , meaning they’re owned free and clear.
Percentage of Homeowner Equity
CoreLogic also notes the average equity mortgaged homes have right now is $177,000. That’s a tremendous amount of forced savings for homeowners in today’s market. As a homeowner, you may have more equity in your house than you realize. Using it to make your move to a new home while interest rates are hovering near all-time lows may be the best decision you could ever make. In a season like we’re in now, when inventory is limited, equity is high, and interest rates are low, homeowners in a position to sell are in a great place to win big.
< 10% 11-20% 21-40% 41-60% 60-99% 100%
Today, sellers are also earning a significant return when making a move in the current market. In the Q2 2020 U.S. Home Sales Report , ATTOM Data Solutions notes: “ Home sellers nationwide realized a gain of $75,971 on the typical sale , up from the $66,500 in the first quarter of 2020 and from $65,250 in the second quarter of last year. The latest figure, based on median purchase and resale prices, marked yet another peak level of raw profits in the United States since the housing market began recovering from the Great Recession in 2012.” Bottom Line Let’s connect to see if your home equity and potential profits position you to make your next move sooner than you may have thought possible.
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