Nationwide, home equity grew during Q4 2024. According to the Calculated Risk blog, which cites a recent report from property data provider CoreLogic, borrower equity increased by $281.9 billion, or approximately 1.7% year-over-year. The report shows that U.S. homeowners with mortgages—accounting for 61% of all properties—saw home equity increase by about $4,100 quarter-over-quarter. From Q3 2023, borrower equity grew by $6,000. New Jersey saw home equity grow the most, followed by Connecticut and Massachusetts. In these states, home equity grew by $39,400, $36,300, and $34,400, respectively.
However, more homeowners are finding themselves with negative equity. While equity continues to grow, the total number of properties with negative equity increased by nearly 10%.
Quarter-over-quarter, the total number of mortgage residential properties with negative equity increased by 9.3% to 1.1 million homes or 2% of all mortgaged properties. While year-over-year, negative equity increased by 7% from 1 million homes, or 1.8% of all mortgage properties. Read more
