11777, Port Jefferson, NY

Home Equity and Home Prices in the 11777 Zip Code of Port Jefferson, NY

When people think about home equity, they typically think about the value of their home. However, there are other factors that can affect a home's equity as well. For example, if you have a mortgage on your home, the equity in your home may be affected by how much money you owe on your mortgage. Additionally, if you have any HELOCs (home equity lines of credit) or other loans against your home's value, those debts also may impact your equity.

The Equity Index is a metric that tracks changes in U.S. stock prices over time and compares them to changes in housing prices. The index is designed to show how investors are pricing homes relative to stocks and other assets (such as bonds). According to Zillow , "The Equity Index measures the percentage change of the S&P 500 over 12 months compared to the percentage change of housing prices during that same period."

As can be seen from the chart below, over the past five years (since January 2011), there has been a strong correlation between Equity Index values and Port Jefferson homeowners' average house values: