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Home equity skyrocketed during the first quarter of 2022

A recently published CoreLogic report found homeowners with mortgages in the first quarter of 2022 saw their equity grow by 32.2% year-over-year.

According to the data vendor, the collective equity gain was $3.8 trillion in the first quarter, or an average gain of $63,600 per borrower. CoreLogic said homeowners with mortgages account for roughly 60% of properties in the nation.

Patrick Dodd, CEO of CoreLogic, said home equity grew in tandem with home prices, which were up by 20% in March, compared to a year earlier.

“This has led to the largest one-year gain in average home equity wealth for owners and is details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com