"Existing mortgage borrowers still control nearly $17 trillion in total equity, with roughly $11 trillion that could be tapped, and those figures have held remarkably steady over the past year. And while borrowers have been relatively timid in tapping the equity, declining borrowing rates could make tapping home equity relatively more affordable in the future."
"While overall equity remains strong, some homeowners have begun to fall into negative equity as prices soften in certain markets. Negative equity increased 15% year over year to about 1.1 million homes representing roughly 2% of all mortgaged properties."
"Home equity gains and losses varied widely across states. Several states in the Northeast posted the largest year over year gains. According to the report the biggest increases occurred in New Jersey where homeowners gained an average of $26,100 in equity followed by Wyoming with $23,100 and Connecticut with $20,300."
Homeowner equity among mortgage borrowers totaled approximately $17 trillion in the third quarter of 2025, with roughly $11 trillion available for borrowing. The average homeowner lost $13,300 in equity year-over-year as home price growth slowed. While overall equity remains historically high and relatively stable, negative equity cases increased 15% year-over-year to 1.1 million homes, representing 2% of all mortgaged properties, with a combined negative equity value of $366 billion. Regional variations were significant, with Northeast states like New Jersey, Wyoming, and Connecticut recording substantial equity gains, while major markets including Florida, California, and Arizona experienced notable declines. Declining borrowing rates may make home equity access more affordable despite borrowers' current reluctance to tap available equity.
Read at www.housingwire.com
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