- Housing News
- August 6, 2021
Homeowners Keep Gaining More Equity as Prices Continue to Rise
Rising home prices over the past few years have increasingly benefited homeowners financially.
Ben is the Managing Editor for New American Funding. In this role, Ben helps with content creation, news coverage, and serving our audience of borrowers, real estate agents, loan originators, and other housing professionals. Prior to joining New American Funding, Ben worked at HousingWire, a top housing media outlet. Ben joined HousingWire in 2014 as a reporter and was later promoted to Senior Financial Reporter, Editor, and eventually to Managing Editor. During his time at HousingWire, Ben helped elevate HousingWire to national acclaim and record traffic growth. He was also honored with multiple awards for his work, including an Eddie Award from Folio Magazine and a Gold Award for Best Trade Magazine Story from the National Association of Real Estate Editors.
Rising home prices over the past few years have increasingly benefited homeowners financially.
After the best May for real estate in 16 years, June saw a slight cooldown.
The rise in remote work has led many to seek homes outside their job cities, increasing interest in new locations.
Given the decline in mortgage applications in June, it's not surprising that new home sales also fell.
Data suggested a rebound in existing home sales for June, and it appears to have occurred.
The frequent "record high" home price stories reflect not just rising prices but also their rapid increase.
Though homebuying seemed to pick up in June, new data shows the increase was likely limited to existing home sales.
New single-family home construction rose in June, but prices also continued to climb.
Despite rising prices and low inventory, home sales are still forecasted to increase this year.
The most recent pending home sales data from the National Association of Realtors indicated that home sales were likely to bounce back in the coming months after declining for several months in a row. It looks like…