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October 4, 2021

Soaring home prices juice average homeowner equity growth

  • Home equity growth can have broad impacts on the economy, giving homeowners more financial flexibility to spend on big purchases or build a nest egg.
  • By ALEX VEIGA
    AP Business Writer

    LOS ANGELES — Soaring home prices have pushed up average homeowner equity growth to the highest level in more than a decade, though recent signs of a cooling U.S. housing market point to more moderate gains in the second half of the year.

    Homes with a mortgage gained an average of $51,500 in equity in the second quarter, an increase of 29.3% from the April-June quarter last year, according to real estate information company CoreLogic. That's the highest quarterly average gain in home equity since the second quarter of 2010, the firm said.


     
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