Homeowners in these 10 states are seeing the biggest gains in home equity

Rising home prices have made it tougher for many Americans to buy a home, but there's an upside for the roughly two-thirds of adults who are already homeowners: a spike in their home equity.

Homeowners with mortgages saw the equity in their homes climb by 8.6% — or an average of $24,000 — in the fourth quarter of 2023 compared with a year earlier, according to new data from CoreLogic. Homeowners in Rhode Island, New Jersey and Massachusetts saw even greater gains during that time period, registering growth of $62,000, $55,000 and $53,000, respectively. 

Those three states led the nation in home value appreciation last year, which helped fuel gains in equity, CoreLogic said.