Issue link: http://dsnews.uberflip.com/i/1356487
7 Journal Compiled by the DS News Staff TA K E A L O O K I N S I D E T H E N U M B E R S DATA BITS Source: WalletHub, "2021's Best & Worst Cities at Money Management" HOMEOWNERS GAIN 1.5 TRILLION+ IN EQUITY Just weeks away from the start of the spring homebuying season, U.S. homeowners looking to sell will earn record gains, as CoreLogic's Home Equity Report for Q4 2020 shows that homeowners with mortgages (which account for roughly 62% of all properties) have seen their equity rise by 16.2% year over year, a gain of $1.5 trillion-plus in equity, and an average gain of $26,300 per homeowner, since Q4 of 2019. "Compared with a year earlier, home prices in December 2020 were up sharply—9.2%, according to the CoreLogic Home Price Index—boosting the amount of home equity for the average homeowner with a mortgage to more than $200,000," said Dr. Frank Nothaft, Chief Economist for CoreLogic. "is equity growth has enabled many families to finance home remodeling, such as adding an office or study, further contributing to last year's record level in home improvement spending." Nationwide, states with strong home price growth and high home prices continued to experience the largest gains in equity, whereas states that were hard hit by the pandemic continue to experience dwindling gains. California, Idaho and Washington experienced the largest average Q4 equity gains at $54,500; $48,500; and $47,200, respectively. North Dakota experienced the lowest average equity gain in Q4 of 2020 at $7,900. California, for example, remains a hot market as an increasing number of workers are seeking more spacious homes with offices in lieu of a commute. Redfin analyzed housing markets in vacation destinations and found that El Dorado County, Calif.—an area that spans from the eastern outskirts of Sacramento to the southern part of Lake Tahoe—had a median average of $592,500, increasing 36% year over year in January, a market that has grown more than any other U.S. county over the last year. I N S I D E T H E J O U R N A L | I N F O S T R E A M | T H E D I G I TA L E D G E | M O V E R S & S H A K E R S According to Black Knight's McDash Flash Forbearance Tracker, around 2.6 million homeowners remained in forbearance as of mid-March. A Redfin report showed that despite a "substantial home-equity uptick" in 2020, Black Americans who bought in 2019 have a median of $89,000 in equity, much lower than $113,000 for white Americans. 1. FAIRBURN, GEORGIA 2. LITHONIA, GEORGIA 3. BASTROP, LOUISIANA 4. RUSTON, LOUISIANA 5. COLLEGE PARK, GEORGIA 6. UNION CITY, GEORGIA 7. LEESVILLE, LOUISIANA 8. MONROE, LOUISIANA 9. RAEFORD, NORTH CAROLINA 10. CANTON, MISSISSIPPI 10 WORST CITIES FOR MONEY MANAGEMENT 1. CUPERTINO, CALIFORNIA 2. SCARSDALE, NEW YORK 3. SARATOGA, CALIFORNIA 4. LOS ALTOS, CALIFORNIA 5. LEXINGTON, MASSACHUSETTS 6. SUN CITY CENTER, FLORIDA 7. PALO ALTO, CALIFORNIA (TIE) 8. FOSTER CITY, CALIFORNIA (TIE) 9. MOUNTAIN VIEW, CALIFORNIA 10. SUNNYVALE, CALIFORNIA 10 BEST CITIES FOR MONEY MANAGEMENT RANK CITY RANK CITY Equity growth has enabled many families to finance home remodeling, such as adding an office or study, further contributing to last year's record level in home improvement spending. VP of Capital Markets, Fannie Mae Page 22 THE EXCHANGE WITH Arthur Johnson