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California Homeowners Are Surprisingly Solid | San Jose News
California’s housing market may be moving slower than a snail on vacation, but homeowners are sitting pretty—thanks to record-high equity. While underwater mortgages still exist (55,568 in Q1 2026, or just 5% of the national total), they’re a fraction of what we saw during the Great Recession, when over a third of California homes were underwater. Today, California leads the nation with an average homeowner equity of $627,000—more than double the national average—and collectively holds nearly $4 trillion in home equity, almost a quarter of the country’s total. Prices might be steep, but…
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