By selecting an excerpt from an article published on the keepingcurrentmatters website, American housing provides explanations to you, dear companions, about your share of your own home (Home Equity) and the factors affecting it.
There are many reasons why you may be thinking of selling your home. And as you evaluate your options, you may find that you’re not sure how to deal with one thing about today’s housing market, and that’s affordability. If this is your biggest concern, understanding how much equity you have in your home can help make the decision easier. Here are two key factors that have a huge impact on the value of your home equity.
First, the tenure of the house owner. This is the average amount of time homeowners live in a home before selling or choosing to move. From 1985 to 2009, the average length of time homeowners stayed in a home was nearly six years.