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Home Equity Gains Over Last Year In Dallas Area May Surprise You

home equity

While home values have increased steadily in the Dallas area over the past several years, a new CoreLogic report found that since last summer the average gain in home equity for homeowners in Dallas is more than $13,600. More good news – the percentage of Dallas-area residents who are upside down in their mortgage is only 1.2%!

CoreLogic found that homeowners in the Fort Worth area may be feeling a little wealthier as their average home equity gain over the last year was $14,781. In 2010, nearly 17% of homeowners in the Dallas area with a mortgage were upside down with negative equity.

Across the state, home equity gains ending the second quarter for a one-year time period averaged $11,000. CoreLogic estimated that fewer than 10,000 Dallas-area homeowners with a mortgage had loans valued higher than their properties, while mortgage firm Lending Tree estimated approximately a third of homeowners in the area have no debt on their properties.

The report found that that California and Washington had the largest home equity gains at $49,000 and $41,000 respectively.

Prices have risen by nearly 50% over the last five years in North Texas, however increases have slowed overall over the last few months in the Dallas-Fort Worth area.

As North Texas continues to flourish and new businesses come in, more people are flocking to the Dallas-Fort Worth area than ever before. Employment, education, diversity, a rich culture, safe, family-friendly communities, it’s all here! If you’re looking to buy or sell a home in the area, contact Team Nelson today.

What People Are Saying

We love using Team Nelson to buy and sell homes! The entire team is incredibly knowledgeable, helpful, and responsive. Tara has been are go to for anything we need to know about local market and market trends. They will schedule a meeting in person at your home and give you honest expectations of the sell of your home. They meet and often exceed the expectations they set for their customers.
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Demi Devine