Borrower equity ↓0.5% yearly in Q4 2025, averaging ↓$8,500 per borrower.
Avg equity was about $295,000, down from $299,000 in the third quarter.
Negative equity ↑15% yearly to 1.1M homes, or 2% of mortgaged properties.
Hepp: equity leveled off but still historically high; nearly $17T total equity, about $11T tappable.
Cotality Home Price Index predicted prices ↑4.46% by December 2026.
