Home equity – the difference between the value of your home and what you currently owe – isn’t just built through your monthly principal payments. Home price appreciation plays a vital role in growing equity and, ultimately, your wealth. CoreLogic recently published their latest Homeowner Equity Insights Report, and it shows continued growth in equity amidst record home price appreciation. The report provides several key takeaways, all of which point to rising wealth for homeowners: >>The average equity gain of mortgaged homes during the past year was $33,400 >>The current average equity of mortgaged homes is greater than $216,000 >>There was a 19.6% increase in total homeowner equity over the past year >>Total U.S. homeowner equity has reached nearly $1.9 trillion In addition to being a critical tool in building wealth, a homeowner’s equity also provides significant flexibility. When you sell your house, the accumulated equity comes back to you in the sale. Recent increases in equity coupled with record-low mortgage rates means it could be the perfect time for homeowners looking to make a move. Home equity has always been a powerful wealth-building tool, and homeowners continue to see their financial stability increase. Nelson Rodriguez, REALTOR® Miami Premier Realty http://www.nelsonrodriguezrealtor.com http://www.guideforhomeowner.com http://www.guideforhomebuyer.com