Homeowners in these 10 states are seeing the biggest gains in home equity
CBSN
Rising home prices have made it tougher for many Americans to buy a home, but there's an upside for the roughly two-thirds of adults who are already homeowners: a spike in their home equity.
Homeowners with mortgages saw the equity in their homes climb by 8.6% — or an average of $24,000 — in the fourth quarter of 2023 compared with a year earlier, according to new data from CoreLogic. Homeowners in Rhode Island, New Jersey and Massachusetts saw even greater gains during that time period, registering growth of $62,000, $55,000 and $53,000, respectively.
Those three states led the nation in home value appreciation last year, which helped fuel gains in equity, CoreLogic said.
A new law aims to strengthen reporting requirements for technology companies to combat online predators seeking to exploit children. One dad told CBS News that he hopes the law will save children like his son, who died by suicide after becoming ensnared in a "sextortion" scheme when he was 17 years old.