The Atlantic Cities-
Nearly five years after the market came crashing down, America’s housing market is beginning to show signs of recovery. Sales of previously-occupied homes have been tracking upward, as have prices.
And according to data released today by the by real-estate website Zillow, the share of homeowners who are “underwater” is also starting to slowly improve. The Zillow data tracks the percent of homeowners with negative equity — that is, those who owe more than their homes are worth — and the dollar amount of that negative equity for the United States as a whole and for its metro regions.
While the amount of negative equity declined by $42 billion in the second quarter this year, it remained a whopping $1.15 trillion. Of all homeowners, 15.3 million (30.9 percent) remained underwater in the second quarter, though this was down from 15.7 million homeowners or 31.4 percent in the first quarter.
Map courtesy of Zara Matheson, data courtesy of Zillow.
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