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CoreLogic Reports Largest Home-Equity Wealth Increase Since 2013

CoreLogic
 

In a new release, “Home Equity Wealth Increase in 2017 Was Largest in Four Years,” CoreLogic reported an average $15,100 gain in home-equity in 2017. Home-equity wealth is the difference between the value of a home and amount of mortgage debt owed by the homeowner. 

CoreLogic reports that in 2017 the CoreLogic Home Price Index rose by more than 6 percent, representing a rise in home-equity wealth greater than that of any year since 2013. CoreLogic estimates this increase in home-equity wealth will spur additional consumer spending. According to the report, a wealth gain of $15,100 can be expected to spur an additional $750 in consumer spending per household over subsequent years. 

While the national average home-equity gain was $15,100, the average gain in Connecticut was approximately $4,000. 

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