Top 10 Metros with Seriously Underwater Properties
According to the latest U.S. Home Equity and Underwater Report from ATTOM Data, homeowners were found to be more likely equity rich than seriously underwater. In other words, the combined estimated amount of loans secured by those properties was 50% or less of their estimated market value. ATTOM says the number of equity rich properties in Q3, 2019 represented 26.7% of 54 million homes with mortgages. But, their report does reveal the places with the highest number of properties that are seriously underwater. Indeed…
“There are notable equity gaps between regions and market segments. But as home values keep climbing, homeowners are seeing their equity building more and more, while those with properties still worth a lot less than their mortgages represent just a small segment of the market.” Said Todd Teta, ATTOM’s Chief Product Officer.
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