Available Home Equity Surpasses $6 Trillion https://buff.ly/2RTZHpL
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According to real estate data provider Black Knight, U.S. tappable equity surpassed $6 trillion for the first time this year. This means that approximately 44 million homeowners with mortgages could have the opportunity to tap into their home equity to fund home improvements, debt consolidation or other financial or cash flow needs.
And as illustrated by the chart from data provider CoreLogic, US homeowners with mortgages (roughly 63% of all properties) have seen their equity increase by $981 billion, or 12.3% in the past year. This means that the average homeowner has gained roughly $16,200 in home equity wealth!
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Source: CMPS Institute