Monday, October 2, 2023 | The Latest Buzz for the Appraisal Industry

Negative Equity Nearing Pre-Crisis Levels

By Jann Swanson

Posted To: MND NewsWire

Owners of some 90 percent of mortgage properties in the U.S. now have some degree of equity in their homes. CoreLogic said today that 273,000 properties returned to a positive equity status during the third quarter of 2014 and overall equity increased by about $800 billion compared to the third quarter of 2013. About $44.6 million properties are now in a positive equity position. Approximately 5.1 million homes or 10.3 percent of all homes in the U.S. with a mortgage, remained underwater at the end of the quarter, down from 5.4 million or 10.9 percent in the second quarter of the year and 6.5 million or 13.3 percent in the third quarter of 2013. The aggregate value of negative equity nationwide was $338 billion at the end of Q3 compared to $348.2 billion in Q2. On a year-over-year basis, the…(read more)

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