Home Owners Add Equity

Existing-home sales are up over 2 percent in October from the previous month. Additionally, home prices have gained more than 10 percent from the same time last year. The reasons – improving jobs, ongoing low interest rates, housing affordability as well as reduced housing inventory, are assisting the increases.

With the steady price gains home owners have seen, total home owner equity has risen by $760 billion so far this year alone. If home prices rise even more for the year, equity gains could reach $1 trillion, a favorable development for the economy and home owners.

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