In the third quarter of 2024, U.S. mortgage holders saw a modest 2.5% increase in home equity, bringing the total nationwide to $17.5 trillion. This growth, while positive, represented a slowdown from the 8% jump experienced in the previous quarter. Additionally, negative equity, which had been declining, saw an uptick for the first time in two years, as reported by CoreLogic.
Key points from the report include:
– Home equity for U.S. mortgage holders rose by 2.5% year over year to $17.5 trillion
– Growth in home equity decelerated from 8% in the second quarter
– Negative equity increased for the first time in two years according to CoreLogic data
– Overall, the housing market continues to show signs of stability but remains vulnerable to economic fluctuations.
You can read this full article at: https://www.housingwire.com/articles/home-equity-gains-slow-home-prices-stabilize-corelogic-q3-2024/(subscription required)
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