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108 NATIONAL SNAPSHOT Regional ON THE RISE Homeowner equity has more than doubled in five years, increasing by $4.5 trillion from Q3 2012 to Q3 2017. By Molly Boesel e amount of homeowner equity in mortgaged real estate increased by $288 billion in Q 3 2017 compared with Q2 2017, and increased by $871 billion between Q 3 2016 and Q 3 2017–a year-over-year increase of 12 percent, according to the latest CoreLogic Equity Report. Homeowner equity has more than doubled in five years, increasing by $4.5 trillion from Q 3 2012 to Q 3 2017. In the report, homeowner equity reflects only mortgaged single-family real estate. e na- tionwide negative equity share for Q 3 2017 was 4.9 percent of all homes with a mort- gage, more than 20 percentage points lower than the peak negative equity share–26 percent–recorded in Q 4 2009 (CoreLogic first began reporting negative equity in Q 3 2009). Over the past 12 months, 712,000 borrowers moved into positive equity. e improvement in negative equity has been national, with all but two states registering a year-over-year decrease in Q 3 2017 (Louisiana and New York saw small increases of 0.1 percentage points and 0.6 percentage points, respectively). Figure 1 shows the 25 states with the largest percentage-point change in negative equity shares from the previous year. Nevada's 5.4-percentage-point decrease between Q 3 2016 and Q 3 2017 represented the nation's largest year-over-year decline, and the drop from a high of 72.7 percent in Q1 2010 to 9 percent in Q 3 2017 represented the largest decline from the peak. Figure 2 shows the average dollar amount of negative equity and the nega- tive equity share for 10 large Core Based Statistical Areas (CBSAs) in Q 3 2017. e average amount of negative equity is in- versely related to the negative equity share. For example, in this group of CBSAs, San Francisco has the largest average amount of negative equity, but the negative equity share is only 0.6 percent. Miami has the smallest average amount of negative equity, but has a negative equity share that is nearly three times the national average. STATS AT A GLANCE » National share of homes with negative equity fell to 4.9 percent in Q3 2017. » Homeowner equity increased 12 percent from a year ago. » Nevada saw the largest improvement in the negative equity share over the past year, falling 5.4 percentage points.