Kathleen Finnegan

home owners stand to recapture more equity in 2014

The number of underwater homes continues to slip, with 791,000 properties regaining equity during the third quarter.

Currently, about 13 percent of all homes with a mortgage — or 6.4 million — remain in negative equity compared to 14.7 percent — or 7.2 million — at the end of the second quarter.

An estimated 42.6 million homes in the U.S. have positive equity. About 20 percent– or 10 million — of those homes, however, have less than 20 percent of equity or what is considered “under-equitied,” according to CoreLogic.

What’s more, about 1.5 million properties have less than 5 percent and are considered near-negative equity. They are the most at risk if prices happen to fall, CoreLogic reports.

The majority of the homes that have positive equity are in the high-end housing market. Ninety-two percent of homes valued at more than $200,000 have equity compared to 82 percent of homes values at less than $200,000, CoreLogic found.

 

 

This entry was posted on Monday, December 23rd, 2013 at 12:39 pm and is filed under Interesting Statistics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.