California’s tappable home equity eased in the second quarter as several key markets saw softening appreciation, according to data from Intercontinental Exchange .

The Golden State held $3.229 trillion of the nation’s $11.626 trillion in tappable home equity, down from $3.269 trillion in the first quarter.

The Southern California counties of Los Angeles, Orange, Riverside, San Bernardino and San Diego hold $1.645 trillion, or more than half of the state’s tappable home equity.

Also see: Record prices push Southern California home sales 35% below average

The U.S. has a record high in tappable home equity at $11.6 trillion with total home equity also at a record $17.8 trillion.

“California holds more than a quarter of the nation’s tappable home equity, over four times more than a

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