96
The Big Finish
Wrap your head
around the market's
leading indicators.
DIVING INTO UNDERWATER
MORTGAGES
Of the 59 million mortgaged homes in the United States, 17.8 million or 32% are considered equity-rich, meaning that the
combined estimated amount of loans secured by those properties was less than 50% of their estimated market value, according to
ATTOM Data Solutions' first-quarter 2021 U.S. Home Equity & Underwater Report.
ATTOM's Chief Product Officer Todd Teta says equity has continued to improve because price increases have widened the gap
between what homeowners owe on mortgages and the value of their properties.
"It continues to be a great time to be a homeowner most everywhere in the country. e ongoing price spikes we're seeing help
to cut down the number of seriously underwater properties and boost the level of equity-rich properties," Teta said. "However, that
may shift once the foreclosure moratorium is lifted and that's something we're watching, partly because it could limit equity gains
and draw people underwater. For now, though, the equity picture remains one of many signs that the long U.S. housing market boom
keeps charging ahead."
Of course, that equity boom isn't hitting all areas equally. Here are the regions where underwater mortgages are found the most
according to ATTOM's report.
Source: ATTOM Data Solutions, "2021 U.S. Home
Equity & Underwater Report"
States with Highest Share
of Seriously Underwater
Mortgages
LOUISIANA 13%
WEST VIRGINIA 10.5%
ILLINOIS 10.4%
ARKANSAS 9.2%
MISSISSIPPI 9.1%
States with Lowest Share
of Seriously Underwater
Mortgages
OREGON 1.8%
CALIFORNIA 1.9%
ARIZONA 2%
WASHINGTON 2.1%
UTAH 2.1%
2.1%
1.9%
2.1%
13%
10.5%
9.1%
9.2%
13%
2%
1.8%
