96
WHERE UNDERWATER
HOMES ARE CONCENTRATED
According to a new report, 14.5 million residential properties in the United States were considered equity-rich as of Q4 2019. e reveals that
around 26.7% of U.S. mortgaged homes hold loans that are 50% or less of their estimated market value, but a high volume of seriously underwater
homes were concentrated in the South and Midwest.
"Homeownership continued boosting household balance sheets across the United States in the fourth quarter of 2019, as people paying off
mortgages were much more likely to be in equity-rich territory than seriously underwater. at marked yet another sign of how much the country
has benefited from an eight-year housing-market boom," said Todd Teta, Chief Product Officer with ATTOM Data Solutions. "Some big gaps in
equity levels persist between regions and market segments. But as home values keep climbing, financial resources keep building for homeowners, which
provides them with leverage to make home repairs, help their children through college or take on other major expenses."
Here's which states were the most and least equity-rich.
MOST UNDERWATER HOMES BY STATE
State Percentage Underwater
Louisiana 16.8%
Mississippi 16.0%
West Virginia 13.9%
Iowa 13.5%
Arkansas 12.9%
MOST EQUITY RICH HOMES BY STATE
State Percentage Equity Rich
California 42.8%
Vermont 39.2%
Hawaii 38.8%
Washington 35.4%
New York 35.1%
Source:
ATTOM Data
Solutions Home
Equity &
Underwater Report
The Big Finish
Wrap your head
around the market's
leading indicators.
Hawaii
Alaska
