Home equity in the first quarter rose to $11.7 trillion, the highest since 2007, BloombergBusiness reports.
Numbers from the Federal Reserve’s report released Thursday also revealed that real estate equity accounted for almost 14 percent of households’ net worth, the biggest share since 2008.
Median home prices in the U.S. have surged 42 percent since the start of the recovery to $219,000 in April.