Unison Releases 2024 Annual Home Equity Report – Resilient Market and New Alternatives for Homeowners

December 3, 2024

Record 4.5% Year-Over-Year National Increase in Home Prices; 45 States See Equity Gains, With Connecticut and New Jersey Leading Growth

SAN FRANCISCO — December 3, 2024/ — Unison, the pioneer of equity sharing agreements, today announced the release of its 2024 Annual Home Equity Report, a comprehensive analysis of the U.S. housing market that highlights notable trends in home equity growth across states and metropolitan areas.

The report is available for free download on Unison's website and offers distinct insights for homeowners, investors, media and financial analysts.

The 2024 housing market showed substantial growth and resilience with a 4.5% increase in home prices year-over-year as of July. Total homeowner equity has climbed to unprecedented levels, reaching $35 trillion nationwide by the close of Q2 2024 with the aggregate home value surpassing $48 trillion.

This year’s report reveals remarkable regional variations in home equity performance with Connecticut, New Jersey and Delaware experiencing the highest growth rates, while Mississippi, Louisiana and Idaho saw declines. The report offers a detailed look at home equity trends, performance across key metropolitan areas and new opportunities for homeowners seeking liquidity.

“Our report reflects the dynamic changes in the housing market and provides an in-depth look at how regional differences can impact homeowner equity,” said Ryan Downs, President at Unison. “With home equity reaching new heights, our findings underscore the critical role it plays in household wealth and the importance of innovative financial solutions.”

Key Findings from the 2024 Home Equity Report:

• National Growth: Year-over-year increase in home prices was 4.5% as of July 2024 with total homeowner equity reaching $35 trillion.
• State Growth Trends: From September 2023 to September 2024, median home equity growth was positive in 45 out of 50 states. Connecticut led with a 24.6% increase, followed by New Jersey (22.3%) and Delaware (18.3%). Mississippi (-2.1%), Louisiana (-3.9%) and Idaho (-6.5%) recorded the steepest declines.
• Dollar-Value Leaders: Hawaii and California posted the highest median home equity values at $564,728 and $497,558, respectively—nearly 30% higher than Massachusetts, ranked third. Oklahoma recorded the lowest median equity at $118,331, just one-fifth of the highest state.
• CBSA Insights: Dover, Delaware, saw the highest CBSA growth with a 35.7% year-over-year increase in home equity. Trenton-Princeton and Atlantic City-Hammonton, both in New Jersey, also ranked among the top performers. In contrast, New Mexico’s Espanola CBSA recorded a 43.5% year-over-year decline, followed by Portales (-32.5%) and Carlsbad-Artesia (-32.2%).
• Extremes in Equity Levels: The Jackson Micropolitan Statistical Area, spanning Wyoming and Idaho, recorded the highest median home equity at $1,562,440—over 20 times higher than Pampa, Texas, which had the lowest.

Availability

The 2024 Home Equity Report further explores the above trends and offers more detailed national and regional analysis. The full 2024 Home Equity Report is available for free download on Unison’s website.

As homeowners consider their financial options with elevated home values, Unison's innovative Equity Sharing Home Loan offers a unique financing alternative. This product provides below-market interest rates and the ability to defer a portion of payments, granting homeowners the flexibility to access liquidity without the heavy payment burden of traditional loans.