About Jon Iacono
Jon Iacono brings his 21+ years of experience in the industry to Advisors Mortgage Group. Jon was born in Brooklyn, NY but has lived the majority of his life in Monmouth County, NJ. As a graduate of Monmouth University with a concentration in Management and Computer Science, Jon brings his training and education to Advisors Mortgage to help grow and manage the recruiting team.
Jon worked alongside many mortgage and real estate industry professionals previously with Mortgage Intelligence companies such as, Mortgage Market Guide, Loan Tool Box, Certified, Scripts for Success, CMPS, MBS Highway, Turning Point CRM and more. Jon gives back to his community and has been an active volunteer firefighter for the Colts Neck 84 -1 station since 2004. He enjoys staying active by playing golf, lifting weights, boxing, training Jiu Jitsu and most importantly spending time with his two kids Lily and Jonny Jr.
Homeowners’ Equity Continues to Increase
December 16, 2024
CoreLogic shared homeowners with mortgages, which make up 62% of all homes, gained $425 billion in equity over the past year, an increase of 2.5%. This brought total home equity to $17.5 trillion. Equity comes from paying down loans and rising home values. On average, homeowners with a mortgage now have $311,000 in equity, with $200,000 of that being tappable (usable without dropping below 20% equity).
As equity grows, fewer homeowners owe more than their home is worth. Negative equity dropped 3% over the year, with only 990,000 homes underwater, which is 1.8% of mortgaged properties and just 1% of all homes.
In total, U.S. homeowners have $37 trillion in equity. That’s an average of $440,000 per homeowner. Here are some key U.S. homeownership stats:
● 136 million total households
● 91 million homes owned (67% ownership rate)
● 56.5 million homes with a mortgage (62%)
● 34.5 million homes owned outright (38%)
● 45 million homes rented (33%)
Source: https://bit.ly/49A5rOo
