19007, Bristol, PA

Home equity is the difference between the market value of a home and what a homeowner owes on their mortgage. In 2007, the average home in Bristol had a value of $126,000. However, homeowners owed an average of only $87,000 on their mortgages. This means that homeowners had a home equity of $38,000.

This figure has increased significantly since 2007. In 2017, the average home in Bristol had a value of $209,000. However, homeowners owed an average of only $141,000 on their mortgages. This means that homeowners had a home equity of $69,000.

The increase in home equity is likely due to several factors:

-The low interest rates available since 2007 have made it cheaper for people to borrow money to buy homes

-The housing market has continued to grow steadily over the past few years

-Rising prices have allowed homeowners to refinance their mortgages and take advantage of lower interest rates