![\"The](\"https:\/\/i0.wp.com\/sandpointrealtyidaho.com\/blog\/wp-content\/uploads\/2024\/09\/20240909-The-Surprising-Amount-of-Home-Equity-You-ve-Gained-over-the-Years-original.png?w=1220&ssl=1\")
\nThere are a number of reasons<\/a> you may be thinking about selling<\/a> your house. And as you weigh your options, you may find you\u2019re unsure how you\u2019re going to deal with one thing about today\u2019s housing market<\/a> \u2013 and that\u2019s affordability<\/a>. If that\u2019s your biggest concern, understanding how much equity you have in your house could help make your decision<\/a> that much easier. Here are two key factors that have a big impact on your equity.<\/p>\n First up is homeowner tenure. That\u2019s how long homeowners live in a house, on average, before selling<\/a> or choosing to move. From 1985 to 2009, the average length of time homeowners stayed put was roughly six years.\u00a0<\/p>\n But\u00a0according<\/a>\u00a0to the\u00a0National Association of Realtors<\/em>\u00a0(NAR), that number has been climbing.\u00a0Now, the average tenure is 10 years (see graph below<\/em>):<\/p>\n To help show how much the price appreciation piece adds up, take a look at this\u00a0data<\/a>\u00a0from the\u00a0Federal Housing Finance Agency<\/em>\u00a0(FHFA) (see graph below<\/em>):\u00a0<\/p>\n Whether you\u2019re looking to\u00a0downsize<\/a>, relocate to a\u00a0dream destination, or move so you can live closer to friends or loved ones, your equity<\/a> can be a game changer.<\/p>\n Connect with a local real estate agent if you want to find out how much equity you\u2019ve built up over the years and how you can use it to buy your next home.<\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":" There are a number of reasons you may be thinking about selling your house. And as you weigh your options, you may find you\u2019re unsure how you\u2019re going to deal with one thing about today\u2019s housing market \u2013 and that\u2019s affordability. If that\u2019s your biggest concern, understanding how much equity you have in your house […]<\/p>\n","protected":false},"author":1,"featured_media":5051,"comment_status":"registered_only","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12],"tags":[29,27,20,18,28],"class_list":["post-5050","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-insight","tag-idaho-real-estate","tag-north-idaho-homes","tag-rain-silverhawk","tag-real-estate","tag-sandpoint-idaho"],"aioseo_notices":[],"acf":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/sandpointrealtyidaho.com\/blog\/wp-content\/uploads\/2024\/09\/20240909-The-Surprising-Amount-of-Home-Equity-You-ve-Gained-over-the-Years-original.png?fit=750%2C410&ssl=1","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pdz2Zu-1js","_links":{"self":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts\/5050","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/comments?post=5050"}],"version-history":[{"count":0,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts\/5050\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/media\/5051"}],"wp:attachment":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/media?parent=5050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/categories?post=5050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/tags?post=5050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}How Long You\u2019ve Been in Your Home<\/strong><\/h4>\n
![\"No](\"https:\/\/i0.wp.com\/sandpointrealtyidaho.com\/blog\/wp-content\/uploads\/2024\/09\/20240909-Today-s-Homeowners-Are-Staying-in-Their-Houses-for-an-Average-of-10-Years-original.png?w=1220&ssl=1\")
<\/a>Here\u2019s why that\u2019s such a big deal. You gain equity<\/a> as you pay down your home loan and as home prices climb. And when you combine all of your mortgage payments with how much prices<\/a> have gone up over the span of 10 years, that adds up. So, if you\u2019ve lived in your house for a while now, you may be sitting on a pile of equity.<\/p>\nHow Home Prices Appreciate over Time<\/strong><\/h4>\n
![\"No](\"https:\/\/i0.wp.com\/sandpointrealtyidaho.com\/blog\/wp-content\/uploads\/2024\/09\/20240909-How-Home-Prices-Have-Grown-over-Time-original.png?w=1220&ssl=1\")
<\/a>Here\u2019s what this means for you. While\u00a0home prices<\/a>\u00a0vary by area, the typical homeowner who\u2019s been in their house for five years saw it increase in value by nearly 60%. And the average homeowner who\u2019s owned their home for 30 years saw it more than triple in value in that time.<\/p>\nBottom Line<\/h3>\n