Homeowners have had it good over the past several years and, according to ATTOM Data Solutions’ fourth quarter 2024 U.S. Home Equity & Underwater Report, they still do. The report found 47.7 percent of mortgaged residential properties in the country could be considered equity rich during the final three months of 2024. A property is equity rich when the amount owed on its mortgages is no more than half its estimated value. Rob Barber, ATTOM’s CEO, says it’s a good position to be in. “Homeowners across the country … are sitting on historically high levels of property equity thanks in large part to the endless increases in home values over more than a decade,” Barber said. “Nearly half of all residential mortgage payers in the U.S. have paid off at least half of their loans, leaving many with six-figures levels of wealth available to leverage anything from new home purchases to starting new businesses to paying off major expenses.” (source)
