GITNUX MARKETDATA REPORT 2024

The Most Surprising Us Home Equity Statistics And Trends in 2024

Statistic 1

"The average homeowner gained approximately $26,300 in home equity between the first quarter of 2020 and the first quarter of 2021."

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Statistic 2

"The ratio of total mortgage debt to home equity reached a historic low of 41.1% in 2020."

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Statistic 3

"U.S. homeowners gained $1.5 trillion in home equity in the first quarter of 2021 compared to the previous year."

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Statistic 4

"More than 16 million homes were equity-rich in the third quarter of 2021, meaning they had at least 50% equity."

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Statistic 5

"As of 2020, 30% of home equity borrowers use the funds for debt consolidation."

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Statistic 6

"24 million U.S. homeowners have mortgage debt that is less than 50% of their home's value."

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Statistic 7

"During the COVID-19 pandemic, the average equity amount per borrower increased by more than $30,000."

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Statistic 8

"The U.S. home equity loan market is projected to reach $174 billion by 2025."

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Statistic 9

"Almost 3 in 10 homeowners consider home equity as a financing option for home improvements."

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Statistic 10

"In 2021, 18% of U.S. homeowners tapped into their home equity through HELOCs or loans."

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Statistic 11

"Home equity lines of credit (HELOCs) accounted for 6% of all household debt in 2021."

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Statistic 12

"42% of homeowners with a mortgage have at least 50% equity in their home as of 2021."

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Statistic 13

"U.S. home equity surpassed $22 trillion in the second quarter of 2021."

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Statistic 14

"Home equity extraction added over $70 billion to consumer spending in 2021."

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Statistic 15

"Home equity loans have an average interest rate of 5.75% as of 2021."

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Statistic 16

"Cash-out refinances made up 49% of all refinances in the third quarter of 2020."

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Statistic 17

"In 2021, Americans had an aggregate home equity of $7.3 trillion, eligible for borrowing but untapped."

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Statistic 18

"The average American has $140,000 in home equity as of 2021."

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Statistic 19

"Home equity rose by an average of 12% year-over-year in 2020."

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Statistic 20

"Home equity withdrawal rate dropped to 1.5% in 2020, reflecting a cautious borrowing behavior."

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