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Senior Home Wealth Increases 3.7% in Q2

According to the National Reverse Mortgage Lenders Association (NRMLA), senior homeowners over the age of 62 saw their housing wealth grow by an average of 3.7% or $339 billion in the second quarter alone, bringing their market share to a record $9.57 trillion from Q1. 

According to study by the NRMLA using their RiskSpan Reverse Mortgage Market Index dataset, the increase in older homeowners' wealth was mainly driven by an estimated 3.4% or $381 billion increase in home values, offset by a 2.2% or $42 billion increase in senior-held mortgage debt. 

"As the holidays approach, it's the perfect time for families to gather and take stock of their retirement resources and make necessary adjustments to ensure continued financial security," said Steve Irwin, President of NRMLA. "Housing wealth should be considered with other financial assets when developing a comprehensive retirement plan."

About Author: Kyle G. Horst

Kyle Horst
Kyle G. Horst is a reporter for DS News and MReport. A graduate of the University of Texas at Tyler, he has worked for a number of daily, weekly, and monthly publications in South Dakota and Texas. With more than 10 years of experience in community journalism, he has won a number of state, national, and international awards for his writing and photography. He most recently worked as editor of Community Impact Newspaper covering a number of Dallas-Ft. Worth communities on a hyperlocal level. Contact Kyle G. at kyle.horst@thefivestar.com.

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