Homeowners Enjoy Record Equity Gains, Even Amid Slowing Sales

Although existing-home sales disappointed in June, prices continued their rise. Owners have netted more than $140,000 in appreciation on average in the last five years alone. Read more from NAR’s latest housing report. For homeowners, the news is good: Even as the market stays cool, prices continue heating up, leading to solid gains in appreciation on average in the last five years alone. Read more from NAR’s latest housing report.

For homeowners, the news is good: Even as the market stays cool, prices continue heating up, leading to solid gains in appreciation.

But buyers are trekking cautiously: Existing home sales—completed transactions for single-family homes, townhomes, condos and co-op—fell 2.7% in June, matching last year’s historically sluggish sales, the National Association of REALTORS® reported Wednesday.

Home Prices Continue Upward March

The median price in June was up 2% compared to a year ago. Nationally, home prices climbed to $435,300—the highest ever recorded for the month of June, NAR reports.

“The record high median home price highlights how American homeowners’ wealth continues to grow—a benefit of homeownership,” says Lawrence Yun, NAR’s chief economist.

Over the last five years, the average homeowner’s wealth has increased by $140,900, Yun says. Research also shows a growing wealth gap between owners and renters: Based on the latest Federal Reserve Survey of Consumer Finance, Yun projected in March that homeowners’ median net worth would reach $430,000 in 2025 versus $10,000 for renters. 

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