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ccording to the U.S. Federal Reserve Z.1 Financial Accounts, household real estate assets saw a slight decline in value from $48.1 trillion to $47.9 trillion in Q1 2025. This marks three consecutive quarters of decline since peaking at $48.8 trillion in Q2 2024, but the overall value remains 2.1% higher than last year.

    Household real estate liabilities, including mortgages and home equity loans, increased by 0.3% to $13.4 trillion in Q1, a 2.9% rise from the same period in 2024. The owners' equity share of real estate assets dropped to 72.0% in Q1, down from 72.2% in Q1 2024, mirroring the decline in market value.