CoreLogic: Homeowner Equity Up 12.2% Year-Over-Year

According to the latest CoreLogic Homeowner Equity Report, U.S. homeowners with mortgages (approximately 63% of all properties) have seen their equity increase by a total of $908.4 billion since the fourth quarter 2016, representing an increase of 12.2%, year over year.  As for Q4 2017, the total number of mortgaged residential properties with negative equity decreased 1% from the previous quarter.  Compared to the Q4 2016, negative equity decreased 21% from 3.2 million homes, or 6.3 percent of all mortgaged properties.  The CoreLogic Homeowner Equity Insights report, is published quarterly with coverage at the national, state and Core Based Statistical Area (CBSA)/Metro level and includes negative equity share and average equity gains.

“Home-price growth has been the primary driver of home-equity wealth creation,” said Dr. Frank Nothaft, chief economist for CoreLogic. “The CoreLogic Home Price Index grew 6.2 percent during 2017, the largest calendar-year increase since 2013. Likewise, the average growth in home equity was more than $15,000 during 2017, the most in four years. Because wealth gains spur additional consumer purchases, the rise in home-equity wealth during 2017 should add more than $50 billion to U.S. consumption spending over the next two to three years.”

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