Home owners still have positive equity gains over the past 12 months

Despite the negative headlines, homeowners still have positive equity gains from the last 12 months.

In the second half of 2022 we started to see home price appreciation begin to moderate - BUT this doesn’t mean you’ve lost all the equity you gained during the pandemic frenzy.

According to this chart from CoreLogic, they found the average homeowner equity in Iowa has actually grown by $11,000 over the past 12 months.

That’s right, despite the headlines, the average homeowner still gained positive equity over the last year in just about every market.

While the gains aren’t as dramatic as they were in the previous quarter due to home price moderation, they’re still significant. If you’ve been in your home for longer than a year, chances are you have even more equity than you realize.

Why is this so important right now?

Equity increases your net worth, but it can also help you achieve other goals, like buying your next home. When you sell your current house, the equity you’ve built up comes back to you in the sale, and it may be just what you need to cover a large portion – if not all – of the down payment on your next home!

Wondering how much equity you might have? Shoot us a DM for a complimentary home equity evaluation.