Among all homeowners with a mortgage nationwide, roughly 1 in 3 (30.2 percent) who owned homes within the bottom third of home values were underwater in the first quarter, according to the first quarter Zillow Negative Equity Report.
Negative Equity Rate Drops Below 25 Percent for First Time in Q2, But Millions Still Face a Long Road
The national negative equity rate fell for the fifth straight quarter in the second quarter of this year, to 23.8 percent of all homeowners with a mortgage, according to the second quarter Zillow Negative Equity Report.
The number of American homeowners in negative equity — or “underwater,” owing more on their mortgages than their homes are worth — continues to fall. But even if homeowners are no longer underwater, they still may be stuck in their current homes.
The overall percentage of all homeowners with a mortgage in negative equity fell to 27.5 percent at the end of the fourth quarter, according to Zillow’s fourth quarter Negative Equity Report.
Negative Equity Recedes in Third Quarter; Fewer than 30% of Homeowners with Mortgages Now Underwater
According to Zillow’s third quarter Negative Equity Report, negative equity for homeowners with mortgages has fallen to 28.2 percent, down from 30.9 percent in the second quarter.