An Eye on Housing Reflects Housing Equity is Continuing to ExpandBy Judi Wilcher in Blog. Tagged: Housing Equity Expands • Judi Wilcher • Transitions
Last week’s Eye on Housing Article, “Housing Equity Continues to Expand“, gave us more great news in the housing market. The “Financial Accounts of the United States” shows continued improvement in the aggregate home equity position of U.S. households.
“Household holdings of real estate, measured on a not seasonally adjusted basis, totaled $21.826 trillion in the third quarter of 2015, $1.365 trillion higher than its level, $20.461 trillion, in the third quarter of 2014. At the same time, home mortgage debt outstanding, $9.460 trillion in the third quarter of 2015, rose by $78.0 billion over the same period. Since the total value of household-held real estate rose faster than the aggregate amount of mortgage debt outstanding, then home equity held by households grew. Over the year, total home equity held by households grew by $1.286 trillion, 11.6%, to $12.366 trillion. Household’s home equity is now 56.7% of household real estate.”