Homeowners with mortgages, which account for roughly 63% of all properties, saw equity increase by 7.3% year over year, representing a collective gain of $1 trillion, for an average of $14,300 per borrower, since the fourth quarter of 2021, according to a recent home equity report.
As home price growth continued its slow, steady decline in the final months of 2022, home equity trends naturally followed suit. In the fourth quarter of 2022, the average borrower earned about $14,300 in equity year over year, compared with the $63,100 gain seen in the first quarter of 2022.
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