Home Equity & Housing Wealth
From the Fed's quarterly Z.1 Financial Accounts: the market value of owner-occupied real estate split into what households own (owners' equity) and what they owe (home-mortgage debt), quarterly back to 1945. This is the balance sheet behind every housing-crash argument.
Latest reading
As of January 2026, Home Equity (Owners' equity ($B)) stands at $34.9T — up from $34.1T the prior reading. The equity share is the load-bearing number: in 2007 it had already fallen to ~60% before prices broke, because debt had grown faster than values for a decade. Today's ~72% share — a level last sustained in the 1980s — is why higher rates froze transactions instead of forcing sales. Falling equity share during rising prices is the classic late-cycle warning. Series history runs from 1945 to present.
Sources, methodology & freshnessLast updated 2026-07-20 · Open ↓Close ↑
Owners' equity ($B)
- Housing value
- $48.76T
- Equity share
- 71.6%84th pctile
Next release: Sep 10, 2026
Full history
Home equity ($)
Total housing value
The gross market value of owner-occupied real estate (equity + mortgage debt) — the full housing stock's worth.
Mortgage debt
Home-mortgage liabilities of households. Note how flat the line went after 2008 — the deleveraging that made the current cycle's balance sheets so resilient.
Equity share %
Owners' equity as a share of housing value — the aggregate loan-to-value mirror. It bottomed near 46% in 2012, deep in the foreclosure era; readings above 70% are generational highs last seen in the 1980s.
Methodology & data
Home Equity is sourced from Fed via the Federal Reserve's FRED service (Federal Reserve Z.1 via FRED (OEHRENWBSHNO owners' equity + HHMSDODNS home mortgages; value = equity + debt), quarterly). We pull the complete history, chart it on a quarterly basis, overlay SPY for context, and generate a dated plain-English reading from the latest release — with no smoothing or adjustment beyond what the chart legend states.
Every reading is stamped with its release date, last updated 2026-07-20. Maintained and reviewed by Yuriy Matso; see our methodology for the standards every series on the site is held to.
Frequently asked questions
What is the Home Equity & Housing Wealth?
From the Fed's quarterly Z.1 Financial Accounts: the market value of owner-occupied real estate split into what households own (owners' equity) and what they owe (home-mortgage debt), quarterly back to 1945. This is the balance sheet behind every housing-crash argument.
How do you read Home Equity?
The equity share is the load-bearing number: in 2007 it had already fallen to ~60% before prices broke, because debt had grown faster than values for a decade. Today's ~72% share — a level last sustained in the 1980s — is why higher rates froze transactions instead of forcing sales. Falling equity share during rising prices is the classic late-cycle warning.
Where does the Home Equity data come from?
Federal Reserve Z.1 via FRED (OEHRENWBSHNO owners' equity + HHMSDODNS home mortgages; value = equity + debt), quarterly. We chart the full history and publish a dated, plain-English reading with every release; the raw series is downloadable as CSV at /data/indicators/home-equity.csv.
How often is Home Equity updated?
Home Equity is a quarterly series from Fed, refreshed here as soon as a new release posts to FRED.
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