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Victor Whitman is chief reporter at Scotsman Guide Media.
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Originations of home equity lines of credit
(HELOCs) declined at the start of 2018, despite
record levels of tappable equity locked up in
homes. A total of 310,999 new HELOCs were
opened in first-quarter 2018, down for the third
consecutive quarter, Equifax reported.
“Home prices are in the process of
becoming elevated, and it is not
because of excess demand. It is
because of the lack of supply.”
Chief economist, Freddie Mac
Chief economist, CoreLogic
“In my mind, there isn’t a large
number of homes sitting vacant
that suddenly will be coming on
the market to address some of the
supply issues that we are facing.”
California city leads the nation
in home-price growth
Home prices are accelerating in numerous
cities across the U.S., but no market is as hot
as San Jose, California, Black Knight reported.
The median home price in San Jose jumped
24 percent year over year as of this past March,
to $1.17 million, the company said.
Source: Black Knight
Decline in Home Equity Lines of Credit
(HELOC) Originations by Quarter
Leading Cities in Annual Home-Price Gains as of March 2018