- Home prices, including distressed sales, increased annually by 6.7 percent in October 2016, and increased 1.1 percent from September, according to the Home Price Index and HPI Forecast by CoreLogic.
Additionally, 384,000 borrowers moved out of negative equity, increasing the percentage of homes with positive equity to 93.7 percent of all mortgaged properties, or approximately 47.9 million homes.
U.S. homeowners with mortgages (roughly 63 percent of all homeowners) saw their equity increase to a total of $227 billion in Q3 2016 compared with the previous quarter, an increase of 3.1 percent.
CoreLogic forecasts that home prices will increase by 4.6 percent year-over-year, and by 0.2 percent by next month.
Year-over-year, home equity grew by $726 billion, representing an increase of 10.8 percent in Q3 2016 compared with Q3 2015.