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Home | Daily Dose | The Week Ahead: Home Price Gains Creates Wealth for Homeowners
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The Week Ahead: Home Price Gains Creates Wealth for Homeowners

House on Money BHHome prices in September were up more than 6 percent compared to a year ago and look to be up another 5 percent by this time next year, according to the September CoreLogic U.S. Home Price Report—and a corresponding rise in home equity has been a boon to homeowners.

“Home equity wealth has doubled during the last five years to $13 trillion, largely because of the recovery in home prices,” said Frank Nothaft, Chief Economist for CoreLogic. “Nationwide during the past year, the average gain in housing wealth was about $11,000 per homeowner, but with wide geographic variation.”

Anand Nallathambi, President and CEO of CoreLogic, shared a similar sentiment saying, “Home price growth creates wealth for owners with home equity. A 5 percent rise in home values over the next year would create another $1 trillion in home equity wealth for homeowners.”

Compared to August, September’s home prices nationally were up about 1 percent. CoreLogic expects October’s prices to inch upwards by 0.3 percent.

What will the latest CoreLogic Home Price Index hold, set to release on Tuesday, November 6th?

 

About Author: Brian Honea

Profile photo of Brian Honea
Brian Honea's writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master's degree from Amberton University in Garland.

About Author: Kendall Baer

Kendall Baer
Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, TX. Born and raised in Texas, Kendall now works as the online editor for DS News.

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