Equity-Rich Properties Represent 26.7% of All Mortgaged Properties
ATTOM Data Solutions’ third quarter 2019 U.S. Home Equity & Underwater Report shows that 14.4 million residential properties in the U.S. were considered equity rich, meaning that the combined estimated amount of loans secured by those properties was 50% or less of their estimated market value.
Those equity-rich properties represented 26.7% of the 54 million mortgaged homes in the U.S. By contrast, the report shows that 3.5 million, or 6.5%, of mortgaged homes in third quarter 2019 were considered seriously underwater, with a combined estimated balance of loans secured by the property at least 25% more than the property’s estimated market value.
The highest equity-rich shares were in the Northeast and West.
The highest seriously underwater shares were in the South and Midwest.
