Home Equity Gains & Market Trends

Home Equity Gains and Market Trends

If you own a home, congratulations—your property has likely gained significant value over the past five years. According to the latest report from the National Association of Realtors®, the typical homeowner has accumulated $147,000 in housing wealth since 2019. This equates to an average profit of $29,400 per year, nearly half of the typical U.S. salary.

The article highlights the sharp rise in home prices in recent years, with notable regional differences. In the third quarter of 2024, home prices saw an impressive increase across the country. The Northeast led the pack with a 7.8% year-over-year price increase, followed by the Midwest at 4.3%, the West at 1.8%, and the South at 0.8%.

A key takeaway is that home price gains weren't confined to specific areas. Around 90% of metro areas experienced home price increases, reflecting a strong and widespread housing market. Despite a slight decrease in the number of markets with double-digit price appreciation (down from 13% to 7%), the overall trend remains positive, with home prices continuing to climb in most markets.

The national median price for a single-family existing home grew by 3.1% year-over-year, reaching $418,700. The South saw the most home sales, accounting for 45.1% of all single-family home transactions in the U.S. between July and September.

Homeowners Have Built Serious Equity

Since 2019, home values have climbed significantly, helping homeowners across the country—and here locally—build wealth simply by owning property.

Key stat:

• The average homeowner gained $147,000 in equity between 2019 and 2024

• That breaks down to roughly $29,400 per year

What You Can Do With That Equity:

• Sell and cash out—many Hudson-area homeowners are now in a great position to sell and walk away with a strong return.

• Refinance or renovate—tap into your equity for home improvements, debt consolidation, or other major expenses.

• Move up or downsize—use your equity to transition to a home that better fits your lifestyle.

🔑 In Hudson, I’ve worked with several sellers recently who bought before 2020 and are now selling with six-figure gains—even without major updates to their homes. 

Regional Trends: The Midwest Is Holding Strong

While home price increases were seen across the country, some regions stood out more than others. Here’s a breakdown from Q3 2024:

• Northeast: +7.8% year-over-year

• Midwest: +4.3%

• West: +1.8%

• South: +0.8%

What this means for Hudson & the Twin Cities:

• Our region’s 4.3% increase shows that the Midwest housing market is steady and sustainable.

• Price growth isn’t too aggressive, making the market approachable for buyers—especially those moving from higher-cost areas.

📍 Hudson, WI continues to attract buyers from Minneapolis, St. Paul, and beyond, thanks to its charm, value, and convenient location.

📊 90% of U.S. Metros Saw Price Increases

This equity boom isn’t limited to just a few hot spots—90% of metro areas in the U.S. saw home price increases over the past year.

Market Snapshot:

• 87% of metros reported price increases in Q3 2024

• The number of metros with double-digit growth dropped from 13% to 7%, showing a shift toward steadier gains

Why It Matters:

• The market is broadly strong, not just in big coastal cities

• Even smaller towns and suburban areas—like Hudson—are part of this long-term appreciation trend

💵 National Median Price Continues to Climb

In Q3 2024, the national median price for a single-family home rose by 3.1%, reaching $418,700.

Regional sales breakdown:

• The South accounted for 45.1% of all U.S. single-family home sales

• Midwestern markets, including the Twin Cities, continue to show healthy buyer activity

💬 We're still seeing solid buyer interest in the Twin Cities and Hudson, especially among young families, remote workers, and retirees relocating from urban areas.

📍 What This Means for Hudson & Twin Cities Buyers and Sellers

Whether you're thinking about selling your home in Hudson or buying your first property in the Twin Cities, these trends offer opportunities for both sides of the market.

If You’re a Seller:

• Now could be the ideal time to list and capitalize on years of equity gains

• Homes in good condition and well-priced are still moving quickly

• Use your equity to move up, downsize, or relocate with confidence

If You’re a Buyer:

• Slower price growth gives you a better chance to get into the market

• Mortgage rates are more stable heading into 2025

• Investing now means you could build your own equity in the coming years

👋 Let’s Talk About Your Next Mov

Ready to make a move in Hudson or the surrounding area?
Let’s talk! Contact The Johnson Group at Coldwell Banker Realty today to start your journey.

📞 Call us today at 651-333-7656
🌐 Or visit www.johnsonhomegroup.com
📍 Serving Hudson, WI and the greater Twin Cities metro area

Read the full article from Realtor Magazine here: https://www.realtor.com/news/trends/homeowner-equity-growth-nar-report/

Written by Mark Johnson, REALTOR® and owner of The Johnson Group at Coldwell Banker Realty. With over 20 years of experience helping clients across Hudson, WI and the Twin Cities, Mark is passionate about delivering expert real estate guidance with a personal touch.