Negative Homeowner Equity Continues to Decline
According to the latest CoreLogic Homeowner Equity Report, U.S. homeowners with mortgages (64% of all properties) have seen their equity increase by nearly $ 457 billion since Q3 2018 – representing a 5.1% increase, year over year. In addition, the total number of mortgaged residential properties with negative equity decreased 4% from Q2 2019 to 2 million homes, or 3.7% of all mortgaged properties. The CoreLogic Homeowner Equity Insights report, is published quarterly with coverage at the national, state and Core Based Statistical Area (CBSA)/Metro level and includes negative equity share and average equity gains. The report features an interactive view of the data using digital maps to examine CoreLogic homeowner equity analysis through the third quarter 2019.
“Ten years ago, during the depths of the Great Recession, more than 11 million homeowners had negative equity or 25% of mortgaged homes…After more than eight years of rising home prices and employment growth, underwater owners have been slashed to just 2 million, or less than 4% of mortgaged homes.” -Frank Nothaft, Chief Economist for CoreLogic