Homeowners are seeing the smallest equity gains in two years [CNBC]
CORELOGIC (CLGX)
Last corelogic earnings: 4/30 04:15 pm
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investor.corelogic.com/node/668
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Source: CNBC
JohnnyH5 | Getty Images Homeowners in most places are still seeing their nest eggs get a little bigger, but the gains are shrinking quickly. The average homeowner with a mortgage saw a gain of $12,400 in home equity between the third quarter of last year and this year, according to CoreLogic. That includes price appreciation and paying down the mortgage. That is down from $16,000 in annual gains in the second quarter, and the smallest gain in two years. States in the West did see bigger gains: Home equity increased by $36,500 in California and by $32,600 in Nevada. Home equity actually fell in North Dakota, Louisiana and Connecticut. On average, homeowners saw their home equity increase again this quarter but not nearly as much as in previous quarters, said Dr. Frank Nothaft, chief economist for CoreLogic. This lower year-over-year gain reflects the slowing in appreciation we've seen in the CoreLogic Home Price Index. Home values were up 5.4 p
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