{"id":3106,"date":"2020-08-05T05:00:08","date_gmt":"2020-08-05T10:00:08","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/why-homeowners-have-great-selling-power-today\/"},"modified":"2020-08-05T05:00:08","modified_gmt":"2020-08-05T10:00:08","slug":"why-homeowners-have-great-selling-power-today","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/why-homeowners-have-great-selling-power-today\/","title":{"rendered":"Why Homeowners Have Great Selling Power Today"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" decoding=\"async\"  src=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/08\/03155454\/20200805-KCM-Share-549x300.jpg?w=358&#038;ssl=1\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"Why Homeowners Have Great Selling Power Today | Simplifying The Market\" style=\"margin-bottom: 5px;clear:both;max-width: 100%\" \/><\/p>\n<p>We\u2019re sitting in an optimal moment in time for homeowners who are ready to sell their houses and make a move this year. Today\u2019s homeowners are, on average, staying in their homes <a href=\"https:\/\/www.simplifyingthemarket.com\/2020\/07\/20\/thinking-of-selling-your-house-now-may-be-the-right-time\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">longer<\/a> than they used to, and this is one factor driving increased homeowner <a href=\"https:\/\/www.simplifyingthemarket.com\/2020\/06\/18\/want-to-make-a-move-homeowner-equity-is-growing-year-over-year\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">equity<\/a>. When equity grows, selling a house becomes increasingly desirable. Here\u2019s a breakdown of why it\u2019s a great time to capitalize on equity gain in today\u2019s market.<span id=\"more-42779\"><\/span><\/p>\n<p>As average homeowner tenure lengthens and home <a href=\"https:\/\/www.simplifyingthemarket.com\/2020\/07\/23\/home-sales-hit-a-record-setting-rebound\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">prices<\/a> rise, equity, a form of forced savings, can be applied forward to the purchase of a new home. <em>CoreLogic<\/em> <a href=\"https:\/\/www.corelogic.com\/insights-download\/homeowner-equity-report.aspx\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">explains<\/a>:<\/p>\n<blockquote>\n<p><em>\u201cOver the past 10 years, the equity position of homeowners has positively changed as a result of more than eight years of rising home prices. As the economy climbed out of the recession in the <strong>first quarter of 2010, 25.9% <\/strong>or 12.1 million homes were still underwater, <strong>compared to the<\/strong> <strong>first quarter of 2020 when the negative equity share was at 3.4%<\/strong>, or 1.8 million properties. Borrowers have seen an aggregate increase of $6.2 trillion in home equity since the first quarter of 2010 and the <strong>average homeowner has gained about $106,100 in equity<\/strong>.\u201d<\/em><\/p>\n<\/blockquote>\n<p>Increasing equity is enabling many homeowners who are ready to sell their current houses today to sell for an increased profit, and then reinvest their earnings in a new home. According to the <a href=\"https:\/\/www.attomdata.com\/news\/market-trends\/home-sales-prices\/attom-data-solutions-q2-2020-u-s-home-sales-report\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><em>Q2 2020 U.S. Home Sales Report<\/em><\/a> from <em>ATTOM Data Solutions, <\/em>in the second quarter of 2020<em>:<\/em><\/p>\n<blockquote>\n<p><em>\u201c<strong>Home sellers nationwide realized a gain of $75,971 on the typical sale<\/strong>, up from the $66,500 in the first quarter of 2020 and from $65,250 in the second quarter of last year. The latest figure, based on median purchase and resale prices, marked yet another peak level of raw profits in the United States since the housing market began recovering from the Great Recession in 2012.\u201d<\/em><\/p>\n<\/blockquote>\n<p>If you\u2019ve been taking a closer look at your house recently and are thinking it might be time for you to make a <a href=\"https:\/\/www.simplifyingthemarket.com\/2020\/07\/30\/will-we-see-a-surge-of-homebuyers-moving-to-the-suburbs\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">move<\/a>, determining your equity position is a great place to start. Understanding how much equity you\u2019ve earned over time can be a key factor in helping you realize the potential profits in your real estate investment and move toward your next homeownership goal.<\/p>\n<h3><strong>Bottom Line<\/strong><\/h3>\n<p>With average home sale profits growing, it\u2019s a great time to leverage your equity and make a move, especially while the <a href=\"https:\/\/www.simplifyingthemarket.com\/2020\/07\/20\/thinking-of-selling-your-house-now-may-be-the-right-time\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">inventory<\/a> of houses for sale and mortgage rates are <a href=\"https:\/\/www.simplifyingthemarket.com\/2020\/07\/15\/mortgage-rates-hit-record-lows-for-three-consecutive-weeks?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">historically low<\/a>. If you\u2019re considering selling your house, let\u2019s connect today so you can better understand your home equity position and take one step closer to the home of your dreams.<\/p>\n<p>Source: New feed<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We\u2019re sitting in an optimal moment in time for homeowners who are ready to sell their houses and make a move this year. Today\u2019s homeowners are, on average, staying in their homes longer than they used to, and this is one factor driving increased homeowner equity. When equity grows, selling a house becomes increasingly desirable. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3107,"comment_status":"false","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10157519356927224_105287467588662":"","twitter_15771620_15771620":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[54],"class_list":{"0":"post-3106","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-info","8":"tag-100-financing","9":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Why Homeowners Have Great Selling Power Today&#8212;NWI Loan Guy Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nwiloanguy.com\/blog\/why-homeowners-have-great-selling-power-today\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Homeowners Have Great Selling Power Today&#8212;NWI Loan Guy Blog\" \/>\n<meta property=\"og:description\" content=\"We\u2019re sitting in an optimal moment in time for homeowners who are ready to sell their houses and make a move this year. 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