As homeowners regain equity in their properties and interest rates continue to increase, equity-financed home improvements will likely become more attractive to borrowers than short sales, home purchasing or refinancing.
Market changes suggest home equity lending demand will be on the rise, according to findings from the Corelogic April MarketPulse report.
In addition to home price appreciation and other factors, the report finds the
Plus, data released by the Bureau of Labor Statistics show by February, nationwide construction employment increased 2.6% year over year and has been increasing annually since June 2011. These seemingly tepid improvements however suggest the marketplace is getting stronger, "compared to the period of double-digit decreases in construction employment" from January 2009 to March 2010, the report notes.