Back to top
Join us on LinkedIn Follow us on Twitter Like us on Facebook Follow us on Instagram
 
  OCTOBER RESEARCH STORE SUBSCRIBE LOG IN
AddControlToContainer_DynamicNavigation1

Home equity increased during first quarter

Email A Friend Printer Friendly Version
0 comments
Market Data
Wednesday, June 17, 2020

U.S. homeowners with mortgages have seen their equity increase by 6.5 percent year-over-year since the first quarter of 2019, according to CoreLogic’s latest Home Equity Report.

 

CoreLogic said the first-quarter increase in homeowner equity is a $590 billion gain. CoreLogic said homeowner equity continued to rise throughout the first quarter despite the coronavirus pandemic.

 

“The pandemic recession will likely lead to price declines in many areas during the next year and weaken home equity gains,” CoreLogic Chief Economist Frank Nothaft said in a release. “However, price declines will be far less than those experienced during the Great Recession, when the national CoreLogic Home Price Index (HPI) fell 33 percent peak-to-trough. Our latest forecast shows the national index to have a peak-to-trough decline of 1.5 percent.”

 

According to the report, the number of mortgaged properties in negative equity in the first quarter of 2020 fell by 16 percent, compared with the first quarter of 2019, when 2.2 million homes, or 4.1 percent of all mortgaged properties, were in negative equity.

 

CoreLogic said homeowners gained an average of $9,300 in home equity between the first quarter of 2019 and the first quarter of 2020. It said states with the largest gains included Idaho ($24,400); Washington ($20,80); and Arizona ($19,900).

 

“Many homeowners will experience a recession during their lifetime, and it is reasonable to compare the current recession to those in the past,” CoreLogic President and CEO Frank Martell said. “But the comparison is not apples to apples — every recession is different.

 

“Primary drivers of the Great Recession were an overbuilt housing stock, risky mortgages and the collapse of home prices, creating a massive increase in negative equity that proved difficult to recover from,” Martell said. “Today’s housing environment has low vacancy and delinquency rates and a large home equity cushion. While the CoreLogic HPI forecasts a decline in home prices in the coming year, we can also expect the majority of homeowners to remain above water.” 

 

 

Today's other top stories
Rocket Companies-Redfin acquisition finalized
Former First American co-president named CEO of TRG
Homebuilders maintain strong credit during challenging market
Next Wave Title welcomes new managing attorney
Baird & Warner names VP of broker relations for mortgage, title service


COMMENT BOX DISCLAIMER:
October Research is not responsible for the comments posted on its websites by readers. We will do our best to remove comments that include profanity or personal attacks or other inappropriate comments.
Comments:

Be the first to leave a comment.

Leave your comment
Please enter a comment.
CAPTCHA Validation
CAPTCHA
Code:
Please enter the word displayed in the image above. Please enter the word displayed in the image above.
: 
Please enter your name.
: 
Please enter your email address.
This field must contain a valid email address.
Your Email is for reporting purposes only. It will NOT be displayed.
Popularity:
This article has been viewed 3924 times.


News by Topic   News by Edition   In-depth Reports   Events   Subscribe
Announcements
Conference Coverage
Cyberawareness
Industry News
Market Data
People on the Move
Technology
Trendsetters
The TRID Journey
 
May 5, 2025
May 19, 2025
June 2, 2025
June 16, 2025
June 30, 2025
Archives
 
2025 Voice of the Title Agent Report
2025 State of the Industry Report
Cybersecurity Today
2024 Title Technology
eClosing Innovations
Technology as a Compliance Tool
Trendsetters
Archives
 
 
National Settlement Services Summit (NS3)
Women's Leadership Summit (WLS)
Webinars
 
Newsletter Subscriptions
Free Email Updates
Try a Free Edition
  Resources   About   Other Publications  
 
Keys to Real Estate Podcast
Blog - Tuesdays with Mary
eClosing Solutions Showcase
Best Practices Provider Directory
Industry Partners
 
The Title Report
Contact / Editors
Social Media
Advertise
Request a Media Kit
Are You An Expert?
Subscriber Agreement
 
The Legal Description
RESPA News
Valuation Review
Dodd Frank Upate
 
                 
Copyright © 1999-2025 The Title Report
An October Research, LLC publication
3046 Brecksville Road, Suite D, Richfield, OH 44286
(330) 659-6101, All Rights Reserved
www.thetitlereport.com | Privacy Policy
VISIT OUR OTHER WEBSITES
> Valuation Review
> RESPA News
> The Legal Description
> Dodd Frank Update
> NS3 The Summit
> Women's Leadership Summit
> October Research, LLC
> The October Store


Loading... Loading...
Featuring:
  • Delivery 3X a week plus breaking news as it happens
  • Comprehensive title insurance industry news
  • Recent acquisitions, mergers, real estate stats
  • Exclusive in-depth coverage of the industry's hottest stories
Featuring:
  • Delivery 2X a week plus breaking news as it happens
  • Comprehensive Dodd-Frank coverage
  • The latest information from the CFPB
  • Full coverage of Congressional hearings
  • Updates on all agency actions
  • Analysis of controversial provisions
  • Release of newest studies and reports
Sign up today and...
  • Be one of the first to know where NS3 is being held
  • Learn about NS3 speakers and sessions
  • Save on registration with Super-Early Bird rates
  • Discover the networking opportunities NS3 offers
  • Find out if CE credits will be offered for your area
  • And much more
Featuring:
  • Delivery 2X a week plus breaking news as it happens
  • Preview the latest RESPAnews.com Top Story
  • RESPA related headline news
  • Quote of the Week
Featuring:
  • Delivery 2X a week plus breaking news as it happens
  • Legal, regulatory and legislative information impacting the settlement services industry
  • News from HUD, Congress, state legislatures and other regulatory agencies
  • Follow the lobbying efforts of all the major national real estate services organizations.
Featuring:
  • Delivery 2X a week plus breaking news as it happens
  • The industry's only full-time newsroom
  • Relevant, up-to-date appraisal industry news
  • Covering the hottest stories and industry trends
NEWS BY TOPIC
NEWS BY EDITION
IN-DEPTH REPORTS
EVENTS
RESOURCES
FREE EMAIL UPDATES
ABOUT
SUBSCRIBE
Announcements
Conference Coverage
Cyberawareness
Industry News
Market Data
People on the Move
Technology
Trendsetters
Sponsored Content
Nominate a Trendsetter
What is Trendsetters
Current Edition
June 16, 2025
June 2, 2025
May 19, 2025
Archives
2025 Voice of the Title Agent
2025 State of the Industry
Cybersecurity Today
2024 Title Technology
eClosing Innovations
Real Estate Compliance Outlook
Technology as a Compliance Tool
Trendsetters
Archives
Nominate a Trendsetter
What is Trendsetters?
National Settlement
Services Summit (NS3)
Women's Leadership
Summit (WLS)
Webinars
2025 Economic Outlook Series
Evolving Realtor Relationships
CFPB's Shake-Up & Its Impact
Artificial Intelligence for Title
Industry and Regulatory Outlook
RESPA Updates You Need to Know
Strategies post-NAR settlement
Fraud Threats Facing Title
Evolving Consumer Relationships
Excess Equity
RESPA Compliance Essentials
Securing Your Cyber Network
Webinar Archives
Cyber Solutions Showcase
Keys to Real Estate Podcast
Title Insurance at Work
Blog - Tuesdays with Mary
eClosing Solutions Showcase
Executive Interview Series
Best Practices Provider Directory
Industry Partners
The Title Report
Contact Us
Social Media
Advertise
Request a Media Kit
Are You An Expert?
Subscriber Agreement