US homeowners are sitting on $28.7 trillion of equity

• A new report from LendingTree found that US homeowners have $28.7 trillion in total home equity.
• That's more than $334,000 of equity per owner-occupied housing unit in the US.
• Huge home-price appreciation could help keep consumers afloat as savings dry up.

Americans are sitting on a $28.7 trillion mountain of home equity.

That's according to a new report from LendingTree, which pointed out that even though the figure has dipped from a record $31.8 trillion in the second quarter of 2022, it remains significant. On balance, that comes out to roughly $334,000 of equity for every owner-occupied housing unit in the country.