Urban Real Estate

Home Equity Grows by $1.02 Trillion

Home Equity Grows by $1.02 Trillion

The latest numbers show that Americans have a lot to be happy about as the year winds to a close - $1.02 trillion to be exact.

That's the increase in American's home equity revealed by new quarterly data released by the Federal Reserve for the 12-month period ending Sept. 30. Breaking it down, the average home owner saw a gain of $12,500. In hotter markets like the West Coast, that number was double.

Read more about the news and some advice on what you should do at the Chicago Tribune here.