Real Estate Market Update April 30, 2024

EQUITY Can Make Your Move Possible When Affordability Is Tight

What Is Equity?

Over the years, you gain equity as you pay down your home loan and as home values rise. It can grow faster than you realize.


Americans Are Sitting on Tremendous Equity
Over 2/3 of homeowners have either completely paid off their mortgage or have at least 50% equity.


According to CoreLogic, the average homeowner with a mortgage has $298,000 in equity.


When You Sell, You Can Use Your Equity To:


  • Make a larger down payment.
    That way you’re borrowing less at today’s mortgage rate.


  • Be an all-cash buyer.
    Lived there a long time? You may be able to avoid having a mortgage by buying your next house in cash.


Want to find out how much equity you have? Connect with an agent to get a Professional Equity Assessment Report (PEAR).