U.S. mortgage holders saw a 2.5% home equity increase in Q3 2024, totaling $17.5 trillion, despite a 3.5% rise in negative equity cases, marking a decline from the previous quarter.
The total number of underwater homes rose to about 990,000, or 1.8% of U.S. properties, due to fluctuating home prices and natural disasters impacting equity.
CoreLogic's report illustrates that while homeowner equity increased by $425 billion since Q3 2023, negative equity has increased by 3.5% quarter-over-quarter, highlighting market volatility.
According to CoreLogic's Selma Hepp, equity losses are closely tied to natural disasters, with significant impacts observed in Hawaii, Colorado, and Idaho due to regional equity declines.
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