A Strong Housing Market Means Steady Home Equity in Q4 2024

With many homeowners holding onto property for longer, home equity was stable during the last quarter of 2024. According to property data provider ATTOM’s 2024 U.S. Home Equity & Underwater Report, 47.7% of mortgaged residential properties in the U.S. were considered equity-rich during Q4 2024. Although this figure is down slightly from the 48.3% of equity-rich homes recorded in Q3 2024, it's an improvement from the 46.1% of equity-rich homes recorded in Q4 2023.

Across the U.S., equity levels remained stable, but low- and mid-priced markets—particularly in the Midwest and Northeast—experienced the highest annual increase in equity. Rhode Island led the way, with 60.8% of equity-rich homes in Q2 2024, compared with just 54.6% of homes during the same time the previous year. This was followed by Missouri, which saw the share of equity-rich homes go from 37.3% to 43% during this period; and Connecticut, which saw the share of equity-rich homes grow from 42.4% to 47.9%.

On the opposite side of the spectrum, equity-rich levels generally declined slightly across western states. The largest year-over-year fallbacks during the fourth quarter came in Florida (down, year over year, from 54.3 percent to 50.9 percent), Utah (down from 53.7 percent to 51.1 percent), Arizona (down from 52.7 percent to 50.9 percent), Oregon (down from 51.2 percent to 49.6 percent) and Idaho (down from 57.6 percent to 56.1 percent). Read more