CoreLogic: Average Homeowner With Mortgage Gained $4,100 in Equity in 2024

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CoreLogic, Irvine, Calif., released its Homeowner Equity Report for the fourth quarter of 2024, finding that nationwide, borrower equity increased by $281.9 billion. That’s an increase of 1.7% year-over-year.

The average borrower had $303,000 in home equity at the end of the year, and gained $4,100 in equity. About 61% of all properties are owned by someone with a mortgage.

The states that saw the largest gains in equity were New Jersey (up by $39,400 on average); Connecticut (up by $36,300) and Massachusetts (up by $34,400). The largest losses were in Hawaii (down by $28,700); Florida (down $18,100) and the District of Columbia (down by $14,700).

“Housing equity growth slowed in 2024 versus 2020-2023 due to moderating price appreciation, but homeowners maintain substantial equity gains from prior years, preserving their strong financial position,” said Selma Hepp, Chief Economist for CoreLogic.

The number of residential properties with mortgages that had negative equity increased by 9.3% to 1.1 million homes from Q3 to Q4. Year-over-year, negative equity increased by 7% from 1 million homes, or 1.8% of all mortgaged properties.

The national aggregate value of negative equity was $338 billion at the end of Q4 2024.

Negative equity peaked at 26% of mortgaged residential properties in Q4 2009.