28314, Fayetteville, NC

Home Equity in the 28314 Zip Code of Fayetteville, NC

The home equity in the 28314 zip code of Fayetteville, NC is $236,000. This is a decrease from $248,000 in 2007. The average home value has decreased by 5% since 2007. There are a total of 1,527 homes in this zip code. The majority of these homes were built between 1990 and 2000. There are also a few newer homes that have been built since 2007 but they make up a small percentage of the total number of homes in this zip code.

The reason for the decrease in home equity is likely due to several factors including:

-The economy has been struggling over the past few years and this has had an impact on home values throughout the country

-There has been an increase in people who are renting instead of buying because they can't afford to buy outright

-Many people have taken out mortgages that are larger than what they could originally afford due to rising prices

-Some homeowners have decided to sell their homes because they no longer need them or they want to move into a different location

All these factors combined have led to a decrease in home equity throughout Fayetteville and other parts of North Carolina. However, it's important to keep in mind that not all homeowners have seen their home equity decline - some may actually see their equity increase as their house gains value over time due to inflation or appreciation. It's always important to consult with a real estate agent or mortgage lender if you're interested in purchasing or refinancing a property so you can get an accurate estimate of your potential options.