We’ve been talking a lot about equity lately, and if you’re a homeowner, it might be one of your favorite subjects. It’s also a big reason why all-cash purchases are on the rise. New York ranks second in the country, with 40.4% of recent home sales made in cash. But even among those with mortgages, nearly half (46.2%) are considered “equity-rich”, meaning they owe less than half of their home’s current value, according to ATTOM’s latest report. New York remains hot, rolling in at 10th place with 54.1% equity-rich mortgages.

States with the biggest year-over-year equity gains include:

Whether you're thinking about moving up, downsizing, purchasing a second home, or tapping into a cash-out refinance, high equity opens the door. With the Westchester market still favoring sellers and competitive bidding still common, your home may have more equity value than you realize. Find out here