Over the past year, homeowner equity in the Bay Area reached new heights. Home prices experienced a 34% gain, rising from $1.01 million in March 2020, to $1.35 million in June 2021. In addition to increased financial security and personal wealth, it also brings an opportunity for homeowners to unleash the equity in their homes for renovations or upgrades. The TJH Build on Your Homesite program is a cost-effective solution for homeowners to take advantage of the increased value of their existing home and build a new, custom home in its place. With equity growth soaring, Bay Area homeowners can build their dream home without leaving their current neighborhood.
“Equity levels at both ends of the spectrum improved in the Bay Area, as they did throughout the country. That’s mainly because most homeowners were still able to pay their mortgages at a time of rising home values. Even those who lost their jobs and couldn’t keep up with loan payments saw equity get better simply because home values kept increasing.”
— Todd Teta, Attom Executive
Bay Area home wealth surges during COVID-19
August 17, 2021