Monday Market Update: Home Equity Is Back: Surprised?

The latest home equity data is in, and the facts just might surprise you! For those who have been concerned about values dropping as interest rates have risen, it may be time to reassess your situation. CNBC reported on Friday (8/4/23) that the national home price index hit a new high in June. This data comes from Black Knight, a leading provider of mortgage analytics and data solutions.

While the full report is set to be released this coming week, the 3 biggest take-a-ways from the report are outlined below. 

You may wonder how equity is back when interest rates remain at higher levels than in the past. CNBC explains that “Home prices are rising again, because there is far too little supply to meet the current demand.” Total US home equity now resides at over $16 trillion in “tappable equity, which is the amount most lenders will allow you to take out while still leaving 20% equity in the home.”

To read the article in full, click here.

As our programming has discussed for years, real estate is a true asset class. Always be sure to talk with your trusted financial advisor and estate planner to truly understand and strategize your home as a place of comfort, but as a source of wealth too. There is no place like home – especially when it creates financial security!

Have a great week,

Bobbi

*Resource Used: These Are the Best and Worst Curb Appeal Choices, According to Thumbtack and Nextdoor

Bobbi & Team 

Bobbi Decker
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Broker Associate, Bobbi Decker & Associates
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