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Data: CoreLogic; Chart: Axios Visuals

U.S. homeowners with mortgages saw a collective equity gain of $1 trillion in the third quarter, a 10.8% increase from Q3 2019, according to a new report from CoreLogic. That comes out to an average gain of $17,000 per homeowner, the largest average equity gain since the first quarter of 2014.

The big picture: The housing market has been on fire since the summer as Americans fled large population centers, looked to take advantage of record-low interest rates and sought to park their cash in real estate as U.S. money supply surged.

Yes, but: Experts believe the overall boom in home sales could continue for years. However, the CoreLogic HPI Forecast shows home price growth slowing over the next 12 months as new home construction and more existing homes ease supply pressures.

  • This could moderate the pace of both price growth and equity gains, the company says.

Of note: The percentage of homeowners who hold negative equity, or owe more on their mortgage than their homes are currently worth, decreased by 6.9% from Q2 to 1.6 million homes, or 3% of all mortgaged properties.

Go deeper

Ben Geman, author of Generate
Jan 13, 2021 - Energy & Environment

Why fuel efficiency gains are slow: Consumers want big vehicles

Reproduced from: Office of Energy Efficiency and Renewable Energy; Chart: Axios Visuals

Pricing is one reason why wringing carbon emissions out of transportation is hard: Automakers have incentives to sell lots of big vehicles that don't get very good mileage. And they're what consumers want.

The big picture: The average price for new light trucks, a category that includes pickups and SUVs, was 43% higher in 2019 than the average for cars, per this new Energy Department analysis of Commerce data.

Trump political team disavows "Patriot Party" groups

Marine One carries President Trump away from the White House on Inauguration Day. Photo: Patrick Smith/Getty Images

Donald Trump's still-active presidential campaign committee officially disavowed political groups affiliated with the nascent "Patriot Party" on Monday.

Why it matters: Trump briefly floated the possibility of creating a new political party to compete with the GOP — with him at the helm. But others have formed their own "Patriot Party" entities during the past week, and Trump's team wants to make clear it has nothing to do with them.