Key Findings on the Economic Influence of Housing
The number of homes with negative equity has decreased.
Total percent of homes underwater went from 25.9% in the first quarter of 2010 to 4.1% in the first quarter of 2019.
Total home equity hits new record
At the end of the first quarter of 2019, total home equity reached $15.8 trillion, up from $6.1 trillion in the first quarter of 2009. Between the first quarter of 2010 and the first quarter of 2019, the average equity per borrower increased from approximately $75,000 to approximately $171,000.
Since 2010, the housing flip rate has increased significantly.
In the first quarter of 2018, the number of properties bought and sold again within a two-year period reached its highest point at 11.4%.
Strong recovery for home prices and rents
Since June 2009, home prices and rents have continued to grow. Through May 2019, home prices increased a cumulative 50% and single-family rents increased 33% in the United States.