Home ownership has reached a milestone in the US. Nearly half of mortgaged properties were considered equity-rich in the second quarter -- meaning owners had at least 50% in home equity.
“While home price appreciation appears to be slowing down due to higher interest rates on mortgage loans, it seems likely that homeowners will continue to build on the record amount of equity they have for the rest of 2022,” Rick Sharga, executive vice president of market intelligence at Attom, said in a statement.