US Homeowner Equity Drops for First Time in a Decade Amid Housing Slowdown.
TL;DR Summary
The average US homeowner with a mortgage has less home equity than they did a year earlier, according to real estate data tracker CoreLogic. Homeowner equity, which represents the current value of the property minus what’s still owed on the mortgage, tends to rise and fall along with home prices. The slowdown in the housing market has led to the first annual drop in US homeowner equity since 2012, with US homeowners with a mortgage losing a combined $108.4bn in home equity between Q1 2022 and Q1 2023, a drop of 0.7%, according to CoreLogic.
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- Average homeowner equity in US declines for first time in over a decade, reflecting housing market slowdown Fox News
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