The Average Homeowner's Equity Rose $13K in the Past Year

The numbers are in, and CoreLogic's Homeowner Equity Report proves that owning a home continues to be a great investment. In fact, U.S. homeowners with mortgages have seen their equity increase by a total of $766 billion since Q2 2016, working out to almost $13,000 per homeowner!

The $766 billion gained in home equity equals a 10.6% increase year-over-year and has brought the total value of U.S. homeowner equity up to $8 trillion, more than double the level just five years ago! That is certainly good news for the approximately 63% of U.S. homeowners that currently have a mortgage.

At the same time, the percentage of homes with negative equity decreased nearly 22%, falling to just 5.4% of all mortgaged properties! At its peak in Q4 2009, negative equity stood at 26% of mortgaged residential properties based on CoreLogic's equity data analysis.

Negative equity, also known as being “underwater” or “upside down,” refers to borrowers who owe more on their mortgages than their homes are worth. It is often the result of some combination of a decline in home value and an increase in mortgage debt.