Fewest homeowners underwater on their mortgages in more than 12 years

Source: Scotsman Guide — 

According to CoreLogic’s most recent Homeowner Equity Report, U.S. homeowners with mortgages saw their equity grow by 29.3% year over year in fourth-quarter 2021, an average gain of $55,300 per borrower.

Collectively, these homeowners (whose assets account for approximately 63% of all residential properties in the U.S.), gained more than $3.2 trillion in equity on a year-over-year basis. Homeowners in Western states saw the largest equity gains by dollar value, led by those in Hawaii ($128,000 gained since Q4 2020), California ($117,000) and Washington ($95,000).

Homeowners nationwide have enjoyed an extended period of rising equity due to the ongoing growth of home prices. In Q4 2021, nationwide home prices climbed by 18% yearly, up from the 8% growth logged in Q4 2020, per CoreLogic.