Home Equity Surges As Demand Soars & Mortgage Rates Hover Near Lows
Home equity for homeowners with a mortgage rose 6.6% annually in the second quarter, according to CoreLogic.
Collectively, that adds up to a gain of $620 billion, or $9,800 per home.
The total supply of homes for sale was just over 29% lower annually for the week ending Sept. 12, according to Zillow. Homes typically went under contract after just 14 days, which is 14 days faster than one year ago.