How to Take Advantage of Booming Home Prices
The housing market has strongly favored sellers in 2021. Limited inventory and low mortgage rates have fueled a surge in buyer demand that's driven home prices upward.
In November, the Federal Housing Finance Agency reported that U.S. home prices rose 18.5% during the third quarter of the year compared to the same period in 2020. Not surprisingly, that's left a lot of property owners with sky-high levels of equity.
In fact, by the end of 2021's third quarter, U.S. homeowners had a collective $9.4 trillion in available equity, according to Black Knight. That amounts to an average of $178,000 per homeowner.
Source Fool.com
