Nearly 1 Million Homeowners Experienced Equity Gains in Second Quarter
In the second quarter of 2012, as many as 950,000 homes saw a positive equity gain.
This puts homeowner equity $1 trillion ahead of where it was at this time last year.
“Many homeowners across the country are seeing the equity value in their homes grow, which lifts the economy as a whole,” Anand Nallathambi, president and CEO of CoreLogic, told Mortgage News Daily. “With more and more borrowers regaining equity, we expect homeownership to become an increasingly attractive option for many who have remained on the sidelines in the aftermath of the great recession. This should provide more opportunities for people to sell their homes, purchase a different home or refinance an existing mortgage.”
Image via flickr/Simon Cunningham