A modest decline in home equity has pushed the index to drop, with the collective senior housing wealth sliding from a peak of $12.42 trillion in Q3 to $12.39 trillion in Q4. According to NRMLA, the dip in equity resulted from a $30 billion increase in senior mortgage debt, while home values remained flat due to the cooling housing market.
“Housing markets nationwide experienced unprecedented growth over the past decade,” said NRMLA president Steve Irwin. “While many of these markets are starting to see declines in home values, the key takeaway here is that older homeowners are still sitting on $12.39 trillion in housing wealth that can be used strategically as part of a retirement plan to enhance retirement security.”
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