HOME EQUITY DOWN SLIGHTLY ACROSS U.S. DURING FOURTH QUARTER BUT REMAINS STRONG
IRVINE, Calif., Feb. 1, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its fourth-quarter 2023 U.S. Home Equity & Underwater Report, which shows that 46.1 percent of mortgaged residential properties in the United States were considered equity-rich in the fourth quarter, meaning that the combined estimated amount of loan balances secured by those properties was no more than half of their estimated market values.
- The portion of mortgaged homes that was equity-rich in the fourth quarter of 2023 decreased from 47.4 percent in the third quarter of 2023, marking the second straight quarterly decline.
- The latest figure also was down from 48 percent in the fourth quarter of 2022.
- The portion of mortgaged homes considered seriously underwater rose nationwide from one in 40 during the third quarter of 2023 to one in 38 during the fourth quarter.
- Seventeen of the 20 counties with the smallest share of equity-rich homes in the fourth quarter of 2023 were in the South.