Schedule time with me # Home Equity Benefits You in Today's Market Dated: August 15 2023 Views: 48 ### Equity Is a Game Changer for Homeowners Looking To Sell  If you’re a homeowner, you might be torn on whether or not to [sell your house](https://www.simplifyingthemarket.com/en/2023/07/31/pricing-your-house-right-still-matters-today/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48) right now. Maybe that’s because you don’t want to take on a higher [mortgage rate](https://www.simplifyingthemarket.com/en/2023/08/03/how-inflation-affects-mortgage-rates/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48) on your next home. If that’s your [biggest hurdle](https://www.simplifyingthemarket.com/en/2023/08/01/sellers-dont-let-these-two-things-hold-you-back/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48), understanding your equity may be exactly what you need to help you feel more comfortable making your move. #### What Equity Is and How It Works Equity is the current value of your home minus what you owe on the loan. And recently, that [equity](https://www.simplifyingthemarket.com/en/2023/06/16/how-owning-a-home-grows-your-wealth-with-time-infographic/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48) has been growing far faster than you may expect. Over the last few years, home prices rose dramatically, and that gave your equity a big boost very quickly. While the market has [started to normalize](https://www.simplifyingthemarket.com/en/2023/07/25/dont-fall-for-the-next-shocking-headlines-about-home-prices/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48), there’s still an imbalance between the [number of homes](https://www.simplifyingthemarket.com/en/2023/08/08/theres-only-half-the-inventory-of-a-normal-housing-market-today/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48) available for sale and the [number of buyers](https://www.simplifyingthemarket.com/en/2023/07/27/homebuyers-are-still-more-active-than-usual/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48) looking to make a purchase. And it’s because homes are in such high demand that [prices](https://www.simplifyingthemarket.com/en/2023/07/17/home-prices-are-rebounding/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48) are back on the rise today. Rob Barber, CEO of ATTOM, a property data provider, [explains](https://www.attomdata.com/news/market-trends/home-sales-prices/attom-q2-2023-u-s-home-equity-and-underwater-report/): > _“Equity levels were high even during the recent downturn, and now they are going back up and better than ever.”_ #### How Equity Benefits You in Today’s Market With today’s [affordability challenges](https://www.simplifyingthemarket.com/en/2023/07/07/the-benefits-of-downsizing-for-homeowners-infographic/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48), that equity can be a game changer when you move. Here’s why. Based on data from [ATTOM](https://www.attomdata.com/news/market-trends/home-sales-prices/attom-q2-2023-u-s-home-equity-and-underwater-report/) and the [_Census_](https://data.census.gov/cedsci/all?q=mortgage), nearly two-thirds (68.7%) of homeowners have either paid off their mortgages or have at least 50% equity (_see chart below_):[](https://www.simplifyingthemarket.com/en/content/images/20230814/20230815-Americans-Sitting-On-Tremendous-Equity.png?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48) That means roughly 70% have a tremendous amount of equity right now. Once you [sell your house](https://www.simplifyingthemarket.com/en/2023/06/26/the-true-cost-of-selling-your-house-on-your-own/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48), you can use your equity to help with your next purchase. It could be some (if not all) of what you’ll need for your next down payment. It may even be enough to allow you to put a considerably larger down payment on your next home, so you don’t have to finance quite as much. And, if you’ve been in your current house for years, you may have even built up enough equity to pay in all cash. If that’s true for you, you’d be able to avoid borrowing altogether, so you wouldn’t have to worry about today’s [mortgage rates](https://www.simplifyingthemarket.com/en/2023/07/19/explaining-todays-mortgage-rates/?a=1940-ee10a00d9ce1f206ef9b956c7c6b6c48). #### How To Find Out How Much Equity You Have The best way to learn how much you have is to reach out to a trusted real estate agent for a Professional Equity Assessment Report (PEAR). ### Bottom Line If you’re planning to [make a move](https://www.mykcm.com/2023/06/13/your-needs-matter-more-than-todays-mortgage-rates/), the equity you’ve gained can make a big impact. To find out just how much equity you have in your current home and how you can use it to fuel your next purchase, let’s connect.  ### [Deanna Dellinger](https://www.lovingeasttennessee.com/agents/269187/Deanna+Dellinger) BUYERS: As a dedicated Realtor in Sevier County, Tennessee, I’m passionate about connecting people with the perfect investment properties in the scenic Smoky Mountains. Whether you'r.... - [](https://www.facebook.com/lovingeasttennessee)
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- [](https://www.linkedin.com/in/deanna-dellinger-164a7511) Login To Leave A Comment # Latest Blog Posts ## [July 2025 Sevier County Real Estate Market Update](https://www.lovingeasttennessee.com/blog/293184/July+2025+Sevier+County+Real+Estate+Market+Update) Posted by [Deanna Dellinger](https://www.lovingeasttennessee.com/agents/269187/Deanna+Dellinger) August 13 2025 [0 comments](https://www.lovingeasttennessee.com/blog/293184/July+2025+Sevier+County+Real+Estate+Market+Update) Sevier County’s real estate market is shifting gears. July 2025 brings cooler listing activity, softer pricing, and longer selling times—but steady sales volumes show that buyers are [Read More](https://www.lovingeasttennessee.com/blog/293184/July+2025+Sevier+County+Real+Estate+Market+Update) ## [Home Prices Have Risen Dramatically Over the Past 5 Years](https://www.lovingeasttennessee.com/blog/271267/Home+Prices+Have+Risen+Dramatically+Over+The+Past+5+Years) Posted by [Deanna Dellinger](https://www.lovingeasttennessee.com/agents/269187/Deanna+Dellinger) March 7 2025 [0 comments](https://www.lovingeasttennessee.com/blog/271267/Home+Prices+Have+Risen+Dramatically+Over+The+Past+5+Years) Your house could be worth way more than you think. Home prices have jumped nearly 60% in the past 5 years, and that means your house is probably worth more too. Here’s how that [Read More](https://www.lovingeasttennessee.com/blog/271267/Home+Prices+Have+Risen+Dramatically+Over+The+Past+5+Years) ## [The Perks of Buying a Newly Built Home](https://www.lovingeasttennessee.com/blog/270827/The+Perks+Of+Buying+A+Newly+Built+Home) Posted by [Deanna Dellinger](https://www.lovingeasttennessee.com/agents/269187/Deanna+Dellinger) March 3 2025 [0 comments](https://www.lovingeasttennessee.com/blog/270827/The+Perks+Of+Buying+A+Newly+Built+Home) Is a Newly Built Home Right for You? The Pros and ConsWhen searching for a home, you don’t want to skip over new builds as an option. Right now, there are more newly built homes to choose from [Read More](https://www.lovingeasttennessee.com/blog/270827/The+Perks+Of+Buying+A+Newly+Built+Home) ## [Options Like Buydowns, ARMs, or Assumable mortgages Could Make Homeownership More Affordable](https://www.lovingeasttennessee.com/blog/269916/Options+Like+Buydowns%2C+Arms%2C+Or+Assumable+Mortgages+Could+Make+Homeownership+More+Affordable) Posted by [Deanna Dellinger](https://www.lovingeasttennessee.com/agents/269187/Deanna+Dellinger) February 24 2025 [0 comments](https://www.lovingeasttennessee.com/blog/269916/Options+Like+Buydowns%2C+Arms%2C+Or+Assumable+Mortgages+Could+Make+Homeownership+More+Affordable) How To Buy a Home Without Waiting for Lower RatesMany people are hoping mortgage rates will come down before they buy a home. But will that actually happen? According to the latest forecasts, [Read More](https://www.lovingeasttennessee.com/blog/269916/Options+Like+Buydowns%2C+Arms%2C+Or+Assumable+Mortgages+Could+Make+Homeownership+More+Affordable) [  Chat With Me ](https://m.me/deanna.dellinger)  Original text Rate this translation Your feedback will be used to help improve Google Translate
