Homeowners Gain an Average of $64K in Equity From Q1 2021 to Q1 2022

Homeowners Gain an Average of $64K in Equity From Q1 2021 to Q1 2022

  • Heather Smith
  • 07/1/22

When you buy a home, you want to gain equity in that home over time.

So, when it comes to equity, how did homeowners fare over the past year? According to the most recent Home Equity Insights Report from CoreLogic, homeowners did very well.

According to the report, homeowners gained, on average, approximately $64,000 in equity between Q1 2021 and Q2 2022—although many states saw much larger average equity gains for homeowners, including California ($141,000), Hawaii ($139,000), and Washington ($119,000). Overall, U.S. homeowners with mortgages (which makes up 62 percent of all properties) saw their equity increase by a whopping $3.8 trillion between Q1 2021 and Q2 2022—a year-over-year change of 32.2 percent.

The Takeaway:

If you’re a homeowner, chances are, you’ve gained some equity in your home over the past year—and if you’re planning to sell and/or buy a new home, understanding those equity gains is a must.

Work With Heather

For most families, choosing a new home is the biggest financial decision they will ever make. There are many complicated decisions involved in choosing a home. As one of the top real estate professionals in the local market, I'll negotiate the best prices and terms for you and answer all of your questions as they arise.