In 2024, U.S. homeowners with mortgages saw an average home equity increase of about $4,100, down from $6,000 in 2023, amidst a cooling housing market. The average equity reached $303,000, reflecting substantial gains from previous years but slowing growth due to leveled-off home-price appreciation. Regional disparities emerged, with the Northeast, upper Midwest, California, and Nevada showing significant equity gains, while states like Hawaii and Florida faced declines. CoreLogic noted that falling home prices heavily influenced these shifts, and despite high equity, borrowers still risk being underwater on mortgages due to market fluctuations.
The average borrower had $303,000 in home equity at the end of 2024, a sign of financial stability even amid moderating price appreciation.
Home-price appreciation is leveling off and tempering equity gains, with significant regional variations; the Northeast remains the leader in equity growth.
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