The market worth of family actual property property fell from $48.5 trillion to $48.1 trillion within the fourth quarter of 2024, in line with the latest launch of U.S. Federal Reserve Z.1 Monetary Accounts. Family actual property property worth have fallen for 2 consecutive quarters after peaking at $48.7 trillion within the second quarter of 2024. Nevertheless, family actual property property have been 7.0% increased over the yr within the fourth quarter following a 7.1% improve within the third quarter.
Actual property secured liabilities of households’ steadiness sheets, i.e. mortgages, house fairness loans, and HELOCs, elevated 0.8% over the fourth quarter to $13.3 trillion. This stage is 2.6% increased in comparison with the fourth quarter of 2023, the identical year-over-year improve because the third quarter.
House owners’ fairness share of actual property property remained above 72% for the fourth straight quarter. The share within the fourth quarter of 2024 was 72.2%, down from a peak of 73.0% simply two quarters in the past.
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