Homeowners in the U.S. saw their equity rise by an average of $20,000, or 6.8%, through the end of the third quarter compared with a year earlier, despite some areas experiencing losses.
The U.S. states where homeowners gained — and lost — equity — in 2023
As detailed in a new analysis from real estate data firm CoreLogic, despite the challenges in the housing market, homeowners in most states saw their equity grow, while some, like Texas, experienced losses.
Impact of Home Equity Growth
Home equity growth is driven by rising home prices, providing homeowners with a sense of wealth and a source of assets to draw on for various expenses.
Regional Disparities in Home Equity
While the In consideration of all these factors trend shows an increase in home equity, some states, such as Texas, have seen a decrease in homeowners’ equity, highlighting regional disparities in the housing market.