A typical homeowner accumulated $147,000 in housing wealth in the last five years, contributing to a profit of $29,400 per year – nearly half of the average U.S. salary.
Distressed property sales and the number of people defaulting on mortgage payments are both at historic lows, indicating the stability of the housing market despite rapid price appreciation.
Home prices remain on solid ground as reflected by the vast number of markets experiencing gains, with 87% of measured metro areas seeing price increases.
The Northeast led in home price increases at 7.8% year over year, a significant contrast to the South’s modest increase of 0.8%.
#housing-market #home-equity #real-estate-trends #national-association-of-realtors #regional-price-changes
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