As the economy strengthens, home values continue to appreciate, and that means homeowners are raking in the equity.
A report released Thursday by data analytics provider CoreLogic showed that home equity rose 12.3% year-over-year in the second quarter of 2018, meaning that the average homeowner saw their equity increase by $16,153 in one year’s time.
Home equity increased in almost every state, according to the report, with the western states showing the greatest gains.
California led the charge with an average gain of $48,800, followed by Washington with $41,100 and Hawaii with $29,600.
The report also looked at mortgaged homes with negative equity to determine how many properties in the U.S. are currently…