A
ccording to the U.S. Federal Reserve Z.1 Financial Accounts, household real estate assets declined from $48.5 trillion to $48.1 trillion in Q4 2024. This marks a two-quarter decline following a peak of $48.7 trillion in Q2 2024. Despite this, household real estate assets still increased by 7.0% year-over-year in Q4.

    Household real estate secured liabilities, including mortgages and home equity loans, rose 0.8% to $13.3 trillion in Q4, a 2.6% increase from the same quarter in 2023. This mirrors the year-over-year growth seen in Q3.

    The owners' equity share of household real estate assets remained above 72% for the fourth consecutive quarter, reaching 72.2% in Q4 2024. However, this is down from a peak of 73.0% just two quarters prior.