Home equity continued to rise, with properties gaining $1.3 trillion in equity over the past year, though the growth rate is beginning to slow.
CoreLogic chief economist Selma Hepp noted that existing homeowners now average about $315,000 in equity, significantly up from approximately $129,000 before the COVID-19 pandemic.
Despite rising costs, mortgage delinquency rates remain low, reinforcing the notion that the accumulation of equity has provided a financial buffer for homeowners.
In Q2 2024, aggregate equity on mortgaged properties exceeded $17.6 trillion, with notable gains led by states like Maine, California, and New Jersey.
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