The historic run-up in home prices during the first two years of the pandemic gave homeowners record amounts of new home equity. Since May, however, about $1.5t of that has vanished, according to Black Knight, a mortgage software and analytics company. The average borrower has lost $30,000 in equity.
| less than a minute read
Here’s how much equity U.S. homeowners have lost since May
“While additional declines may be on the horizon, homeowner positions remain broadly strong,” noted Ben Graboske, Black Knight’s president of data and analytics.
