712,000 Homes in the US Regained Equity in the Past 12 Months!

712,000 Homes in the US Regained Equity in the Past 12 Months! | Simplifying The Market

CoreLogic’s latest Equity Report revealed that “over the past 12 months, 712,000 borrowers moved into positive equity.” This is great news, as the share of homeowners with negative equity (those who owe more than their home is worth), has dropped more than 20% since the peak in Q4 of 2009 (26%) to 4.9% today.

The report also revealed:

  • The average homeowner gained approximately $14,900 in equity during the past year.
  • Compared to Q3 2016, negative equity decreased 22% from 3.2 million homes, or 6.3% of all mortgaged properties.
  • U.S. homeowners with mortgages (roughly 63% of all homeowners) have seen their equity increase by a total of $870.6 billion since Q3 2016, an increase of 11.8%, year-over-year.

The map below shows the percentage of homes by state with a mortgage and positive equity. (The states in gray have insufficient data to report.)

712,000 Homes in the US Regained Equity in the Past 12 Months! | Simplifying The Market

Significant Equity Is on The Rise

Frank Nothaft, Chief Economist at CoreLogic, believes this is great news for the “housing market.” He went on to say:

“Homeowner equity increased by almost $871 billion over the last 12 months, the largest increase in more than three years. This increase is primarily a reflection of rising home prices, which drives up home values, leading to an increase in home equity positions and supporting consumer spending.”

Of the 95.1% of homeowners with positive equity in the U.S., 82.9% have significant equity (defined as more than 20%). This means that more than three out of four homeowners with a mortgage could use the equity in their current home to purchase a new home now.

The map below shows the percentage of homes by state with a mortgage and significant equity.

712,000 Homes in the US Regained Equity in the Past 12 Months! | Simplifying The Market

Bottom Line

If you are one of the many homeowners who are unsure of how much equity you have in your home and are curious about your ability to move, let’s meet up to evaluate your situation.

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18676 N 95th Street Scottsdale, AZ 85255

$1,395,000
4 Beds
2 Baths
2,627 SqFt
Status Active Under Contract
MLS # 6773200
Property Type Single Family Residence
Price Type --
The best value for a fully remodeled home in all of prime North Scottsdale 85255, priced under $1.5M! This is the home you've been dreaming of, where modern luxury and timeless design meet to create an unparalleled living experience. Step inside and be immediately captivated by the elegance of high-end finishes, from the sleek wide-format porcelain tile floors to the stunning light fixtures that cast a warm, inviting glow throughout. The expansive 20-foot bifold patio doors blur the lines between indoor and outdoor living, revealing a resort-style backyard that feels like your own private retreat. Set on a premium lot that backs up to a peaceful wash, the privacy and serenity are unmatched, offering you a sanctuary from the hustle and bustle. The vaulted ceilings and open-concept design create an expansive, airy atmosphere that invites you to entertain with ease. Imagine the heart of your home gourmet kitchen with luxurious quartz countertops, top-of-the-line stainless steel appliances, a massive walk-in pantry, and cabinetry that seems to go on forever. This is where holiday dinners, weekend brunches, and everyday moments turn into lasting memories with friends and family. The split floor plan offers the ultimate in privacy. Your primary suite is a haven of tranquility, with natural light flooding in from a private exit to the backyard. Wake up to the peace of your surroundings, and retreat to your en-suite bath, where double vanities and a walk-in shower await your daily spa-like ritual. A custom walk-in closet ensures everything has its place, making organization effortless. With three additional spacious bedrooms, a beautifully updated second bathroom, and ample room for family, guests, or even a home office, this home delivers everything you could want. Adding to the appeal, the garage features epoxy floors, combining durability with a sleek, modern look perfect for keeping your vehicles and storage in pristine condition. Perched in one of North Scottsdale's most sought-after neighborhoods, this home is surrounded by the finest dining, shopping, spas, and golf courses the area has to offer. With easy access to the 101 freeway and views of the stunning McDowell Mountains, the lifestyle here is simply unrivaled. This isn't just a house, it's the ultimate North Scottsdale dream home, where every detail is designed to elevate your life. Come experience it for yourself and claim the lifestyle you've always wanted. Schedule your showing today!

8927 E Wethersfield Road Scottsdale, AZ 85260

$1,395,000
3 Beds
3 Baths
3,116 SqFt
Status Active Under Contract
MLS # 6750382
Property Type Single Family Residence
Price Type --
One of the best values in Cactus Corridor!! Charming 3 bedroom/3 bathroom home including separate entry guest casita located in a private gated community of 35 homes. Features include walk-in closets for each bedroom, custom cabinetry, granite counter tops, tile flooring throughout the great room/kitchen, open floor plan and spacious rear yard for entertaining. A gorgeous resort like pool with covered spa area make this hard-to-find home in a sought after Scottsdale location a one of a kind. Come see for yourself and make it yours today!

4205 E Edgemont Avenue Phoenix, AZ 85008

$1,395,000 - 5Br/5Ba -  for Sale in Rancho Ventura, Phoenix
Open House
$1,395,000
5 Beds
4.5 Baths
3,815 SqFt
Status Active
MLS # 6786927
Property Type Single Family Residence
Price Type --
Beautifully remodeled home in lower Arcadia! This rare basement home with high ceilings has an unbelievable floor plan that accommodates many living situations...be it the need for a couple home offices, multi-gen living, kids/teenagers, etc... This is truly a flexible floor plan! This stunning home boasts over 3800 sq ft with 5 bedrooms and 4.5 baths. As a bonus, none of the bedrooms have shared walls for added privacy. Basement includes a fabulous bonus room complete with a wet bar/kitchenette. Move in ready...don't miss out!

10569 N 131st Street Scottsdale, AZ 85259

$1,390,000
4 Beds
3 Baths
2,446 SqFt
Status Active
MLS # 6751143
Property Type Single Family Residence
Price Type --
Welcome to this charming 4-bedroom, 3-bathroom home nestled in a highly sought-after Scottsdale. Located just off 131st and Shea Blvd, this spacious residence offers comfort and convenience. The living room features a cozy fireplace, perfect for relaxing evenings. The home sits on a beautifully landscaped lot, with a secure block wall providing privacy and tranquility. For those who love outdoor activities or need extra storage, the property boasts a detached RV garage, offering plenty of space for your RV, boat, or other toys. The layout offers generously sized bedrooms and bathrooms, ensuring ample room for all. This home's location is a true standout. It is just a short drive from the renowned Mayo Clinic, BASIS School, and the vibrant communities of Fountain Hills and Old Town.

6415 E Sunnyside Drive Scottsdale, AZ 85254

$1,390,000
4 Beds
2 Baths
1,855 SqFt
Status Active
MLS # 6745519
Property Type Single Family Residence
Price Type --
Come see this beautifully unique corner lot listing that possess a highly desired rare & scarcely available 1+acre lot size. Located in the sought after 85254 Scottsdale zip code, the existing 1962 ranch home and lot are being sold ''as-is.'' The current home is still livable, as desired by the new owner, with a new roof, floors, and bathroom updates. Found within the Desert Estates subdivision just north of Paradise Valley, this neighborhood and street contains an array of new custom homes and remodels. This lot is a must see for your new custom built Scottsdale home!

2808 W Here To There Drive Phoenix, AZ 85086

$1,390,000
4 Beds
3.5 Baths
3,050 SqFt
Status Active
MLS # 6784852
Property Type Single Family Residence
Price Type --
Wow, just wow! Extraordinary new built on a one-acre lot in a growing neighborhood with mountain views & NO HOA!!! This impeccable custom abode showcases an exquisite curb appeal with a professionally designed landscape, 2 car garage, and RV garage. Discover a large open floor boasting a sleek design paired with soaring ceilings, recessed lighting, and wood flooring, promoting a modern feel. Abundant natural light floods every corner; the living room features a fireplace & multi-sliding doors that seamlessly connect the indoors & outdoors. The sophisticated kitchen outfitted with a hidden pantry, quartz backsplash & counters, new white & gold appliances, a pot filler faucet over the gas stove, and an oversized island with a breakfast bar, is worth a chef. The butler's pantry has space for a coffee station. The spacious owner's suite hosts 2 walk-in closets and a lavish ensuite with 2 vanities & a huge walk-in shower with tub. The second bedroom has its own bathroom, and bedrooms 3 & 4 share a Jack & Jill bathroom. Mud room, large laundry room, and garage with epoxy floor & custom LED lighting are worth mentioning. The massive backyard is a blank canvas awaiting your creative touch to be transformed into an entertainer's oasis. The covered patio stares directly at the Mnts. promising colorful sunsets. No expenses were spared to make this a unique gem!

1960 E Blackhawk Drive Gilbert, AZ 85298

$1,390,000
4 Beds
4.5 Baths
4,343 SqFt
Status Active
MLS # 6783512
Property Type Single Family Residence
Price Type --
This stunning single-story estate home in the gated Marathon Ranch community in Gilbert offers a luxurious living experience with no detail overlooked from the time you enter your private courtyard's iron gate. This 4 bed, 4.5 bath, 4 car garage property is one of the largest in the community with elegant premium upgrades throughout and boasts a separate office, bonus flex room, a formal dining room and breakfast nook. The gourmet chef's kitchen and great room features soaring ceilings with double stacked glass front cabinets, Sub Zero built-in fridge, gas cooktop and 90 degree corner slider doors to the resort backyard with sparkling pool by Presidential Pools. Primary suite features dual closets, soaking tub and tiled shower. Homes this special are rare - don't miss the upgrades list!

37030 N Tree Lined Trail Carefree, AZ 85377

$1,390,000
4 Beds
3 Baths
3,924 SqFt
Status Active
MLS # 6692821
Property Type Single Family Residence
Price Type --
Stunning views from nearly every window in this 3924 square foot desert estate located on 1.49 acres! Experience luxury and privacy with miles of mountain views, city lights, and sunsets. Split floor plan and quality construction. A generous chef's kitchen features double ovens, wine fridge, island, and breakfast bar. The backyard oasis includes heated pool and spa with a waterfall feature, kiva fireplace, built-in bbq, and unobstructed views. Exquisite setting for relaxing or entertaining. 3 car garage, two way fireplace family room fireplace, and so much more. Experience the beauty of quintessential Arizona living

30009 N 58th Street Cave Creek, AZ 85331

$1,390,000
3 Beds
2.5 Baths
3,391 SqFt
Status Active
MLS # 6739883
Property Type Single Family Residence
Price Type --
Welcome to your private oasis—an exquisite estate nestled on two sprawling acres of lush, manicured grounds. Elegantly gated and approached by a long driveway, this meticulously maintained residence radiates pride of ownership. The estate boasts an impressive array of features, including ample parking space for all your vehicles and recreational toys. A generous 5-car parking area on a sturdy slab complements the massive 4-car garage with three doors, providing abundant room for your prized collection. The property offers additional potential with ample space for a guest house, detached garage, or even equestrian facilities. Step inside this impeccably appointed home and discover a thoughtfully designed split floor plan that effortlessly combines comfort and style. The chef's kitchen is a culinary dream, equipped with a Sub-Zero refrigerator and a Viking oven, perfect for crafting gourmet meals. Adjacent, the expansive family room invites relaxation with its warm fireplace and abundant natural light, creating an ideal space for gatherings and cozy evenings. The master suite serves as a sanctuary of luxury, featuring a spacious layout and an oversized bathroom that epitomizes indulgence. Enjoy the convenience of separate his and hers water closets, complete with a bidet, ensuring a private and serene retreat. Despite its serene, secluded feel, this remarkable estate offers the ultimate convenience, placing you just minutes away from vibrant shopping and dining options. Experience the perfect blend of seclusion and accessibility in this enchanting home that truly embodies the essence of refined living.

1911 N 169th Avenue Goodyear, AZ 85395

$1,390,000
3 Beds
2.5 Baths
3,134 SqFt
Status Active
MLS # 6729181
Property Type Single Family Residence
Price Type --
As you enter the home, you are immediately greeted by stunning upgrades and high-end finishes that are sure to impress. The expansive great room offers ample space for relaxation and entertaining, while the chef's kitchen is a dream come true for any culinary enthusiast. Step outside to your private oasis featuring a pristine saltwater pool, perfect for relaxation or entertaining. Golf enthusiasts will delight in the custom putting green, while the spacious covered patio and built-in BBQ area is ideal for hosting gatherings. The home's prime location offers breathtaking lake views, as well as stunning vistas of the 14th green and 15th tee box. Owned Solar. From top to bottom, this residence has been thoughtfully designed to offer unparalleled comfort and sophistication. It's truly a place where timeless charm meets modern luxury, creating an unmatched living experience for those lucky enough to call it home. Living in PebbleCreek Golf Community means access to top-notch amenities, including 3 world-class golf courses, 36 pickleball courts, and a vibrant social scene.

129 E Foothill Trail Williams, AZ 86046

$1,390,000
3 Beds
2 Baths
2,239 SqFt
Status Active
MLS # 6753024
Property Type Single Family Residence
Price Type --
Welcome to one of the most exquisite homes Williams has to offer. Nestled in the heart of the Pines and located in the highly desirable subdivision of Mountain Shadows. This custom owner build offers everything you are looking for in a mountain getaway. The sweeping, covered decks usher you in to the front entrance. The home offers vaulted ceilings with touches of tongue and groove. Three oversized bedrooms and a large den that could be converted into a bonus room. The primary bedroom is abundant in space and offers an en-suite bathroom. The primary bath has dual vanity's and a custom walk-in shower. The kitchen is a master piece featuring custom cabinets and custom granite backsplash that is a work of art. Move into the open living room and cozy up by the wood stove on those cold winter nights. The covered back deck overlooks the gorgeous scenery. The property also features an attached two car garage and a separate RV garage! Attached to the RV garage is separate guest quarters! With a partial bathroom and kitchen downstairs and a loft upstairs. The RV garage also features additional covered parking spaces for toys or equipment. The property is situated perfectly towards the end of the subdivision with easy access to the Forest Service. Just minutes from the surrounding lakes, forest and downtown Williams! This is a dream property in one of the most desirable areas of Williams! Don't miss out on this amazing opportunity!

3302 N 63rd Street Scottsdale, AZ 85251

$1,390,000 - 5Br/4Ba -  for Sale in Melrose Meadows 3 88-93, 102-104, 154-165, Scottsdale
Open House
$1,390,000
5 Beds
4 Baths
2,959 SqFt
Status Active
MLS # 6784323
Property Type Single Family Residence
Price Type --
Classically charming Ranch style home in one of the most coveted neighborhoods of 85251. Located on the southern border of Arcadia proper, minutes from Old Town Scottsdale & Fashion Square. This home is a rare find that caters to the diverse needs of modern families with opportunity for multi-generational living, lock & leave or income earning property. Impeccably maintained, this 5-bed, 4-bath residence offers timeless curb appeal in one of South Scottsdale's most idyllic neighborhoods. The heart of the home is an open-style living area, dining room & newly updated kitchen. With three of five bedrooms offering ensuite bathrooms, including a large primary with private office/sitting room and separate W/D. The 5th Bedroom provides flexibility to be used as a media room, den or playroom Enjoy outdoor entertaining with a deep covered patio, custom sunshades, built-in BBQ, and a fenced-in pool & easy maintenance yard. Air-conditioned, oversized 2-car garage PLUS two generous storage rooms. 2023 roof (with transferable warranty), newer A/Cs, Water Heater, Rain Gutters, updated electrical & lighting. Perfectly situated minutes from Fashion Square, Old Town, Arcadia High School/Veritas Charter School, Arizona Country Club. Camelback Mountain & Papago Park.

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