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Homeowners should feel twice as rich, study says

Nov 02, 2016
Thanks to rising home prices, homeowners are getting richer, a new study says. The amount of homeowner equity has doubled in the last five years, according to CoreLogic’s latest Home Price Index and HPI Forecast for September 2016.
 
"Home equity wealth has doubled during the last five years to $13 trillion, largely because of the recovery in home prices," says Frank Nothaft, chief economist for CoreLogic. "Nationwide during the past year, the average gain in housing wealth was about $11,000 per home owner, but with wide geographic variation."
 
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New York first quarter statewide home sales strong 
despite slide from record pace

With 25,192 closed sales across the Empire state in the first quarter, the housing market posted a strong start to 2018, even as it fell short of 2017’s record. The first quarter 2018 statewide median sales price of $260,000 represented an increase of 7.4 percent from a year ago. Click here to read more.

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