CoreLogic’s Homeowner Equity Report for the second quarter of 2021 has found that U.S. homeowners with mortgages (which account for roughly 63% of all properties) have seen their equity increase by 29.3% year-over-year, a collective equity gain of more than $2.9 trillion, and an average gain of $51,500 per borrower, since Q2 of 2020.
By June 2021, consumer confidence had risen to its highest level since the onset of the pandemic. This positive sentiment was echoed by current mortgage holders in a recent CoreLogic consumer survey, which found that 59% of respondents feel extremely confident in their ability to keep current on their mortgage payments in the coming year.
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