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【World Property Journal】26.7 Percent of all U.S. Residential Properties With a Mortgage are Equity Rich

【World Property Journal】26.7 Percent of all U.S. Residential Properties With a Mortgage are Equity Rich

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The count of equity rich properties in the third quarter of 2019 represented 26.7 percent, or about one in four, of the 54 million mortgaged homes in the U.S.

The report also shows that just 3.5 million, or one in 15, mortgaged homes in the third quarter of 2019 were considered seriously underwater, with a combined estimated balance of loans secured by the property at least 25 percent more than the property's estimated market value. That figure represented 6.5 percent of all U.S. properties with a mortgage.

"The latest numbers reveal another profound impact of the extended housing boom, as far more homeowners find themselves on the right side of the balance sheet instead of the wrong side. This is a complete turnabout from what was happening when the housing market crashed during the Great Recession," said Todd Teta, chief product officer with ATTOM Data Solutions. "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."
 

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