🌷 2026 Spring Real Estate Market in Northwest Ohio: What Buyers & Sellers Need to KnowAs we head into the 2026 spring market, all eyes are on Northwest Ohio—and especially the Toledo
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Dated: September 28 2023
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Your Home Equity Can Offset Affordability Challenges
Are you thinking about selling your house? If so, today’s mortgage rates may be making you wonder if that’s the right decision. Some homeowners are reluctant to sell and take on a higher mortgage rate on their next home. If you’re worried about this too, know that even though rates are high right now, so is home equity. Here’s what you need to know.
Bankrate explains exactly what equity is and how it grows:
“Home equity is the portion of your home that you’ve paid off and own outright. It’s the difference between what the home is worth and how much is still owed on your mortgage. As your home’s value increases over the long term and you pay down the principal on the mortgage, your equity stake grows.”
In other words, equity is how much your home is worth now, minus what you still owe on your home loan.
How Much Equity Do Homeowners Have Now?
Recently, your equity has been growing faster than you might think. To help contextualize just how much the average homeowner has, CoreLogic says:
“. . . the average U.S. homeowner now has about $290,000 in equity.”
That’s because, over the past few years, home prices went up significantly – and those rising prices helped your equity to accumulate faster than usual. While the market has started to normalize, there are still more people wanting to buy homes than there are homes available for sale. This high demand is causing home prices to go up again.
According to the Federal Housing Finance Agency (FHFA), the Census, and ATTOM, a property data provider, nearly two-thirds (68.7%) of homeowners have either fully paid off their mortgages or have at least 50% equity (see chart below):
Emily Schifferly
As a dedicated real estate professional with over 14 years of experience, I proudly serve buyers and sellers throughout Perrysburg and the surrounding areas. Licensed since 2010, I’ve built my b....
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