The market value of household real estate assets rose to $49.3 trillion in the second quarter of 2025, according to the most recent release of U.S. Federal Reserve聽. The value rose by 2.7% from the first quarter and is 1.1% higher than a year ago. This measure of market value estimates the value of all owner-occupied real estate nationwide. The calculation combines both repeat-home sales data with estimates of additions to the housing stock, essentially measuring both price changes and the change in quantity of housing assets. This approach helps explain why household real estate wealth can continue to rise even as other measures may show a slowing in home price growth.
According to analysis form the , real estate secured liabilities of households鈥� balance sheets, i.e. mortgages, home equity loans, and HELOCs, increased 0.8% over the second quarter to $13.5 trillion. This level is 2.8% higher compared to the second quarter of 2024.
Owners鈥� equity share聽of real estate assets was 72.6% in the second quarter, marking an increase in owners鈥� equity share from the first quarter. The share in the second quarter of 2024 was 73.0% and has been above 70% for 14 consecutive quarters, the longest stretch since the 1950s. Owners鈥� equity in real estate was $35.8 trillion in the second quarter.
