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News & Information: Real Estate News

Home equity rise hits $760 billion for 2012

Monday, November 26, 2012  
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Sales of existing homes throughout the nation increased 11 percent in October, while home prices also rose 11 percent due to lower levels of inventory supply, according to the National Association of REALTORS®.

"Rising home prices have already resulted in a $760 billion growth in home equity during the past year," says Lawrence Yun, NAR chief economist. "Given that each percentage point of price appreciation translates into an additional $190 billion in home equity, we could see close to a $1 trillion gain next year."

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