Nearly Half of US Homeowners
Considered ‘Equity Rich’
ATTOM, a leading curator of real estate data nationwide for land and property data, today released its first-quarter 2022 U.S. Home Equity & Underwater Report, which shows that 44.9 percent of mortgaged residential properties in the United States were considered equity‑rich in the first quarter, meaning that the combined estimated amount of loan balances secured by those properties was no more than 50 percent of their homes estimated market values.
The portion of mortgaged homes that were equity‑rich in the first quarter of 2022 inched close to half, up from 41.9 percent in the fourth quarter of 2021 and from 31.9 percent in the first quarter of 2021.
“Homeowners continue to benefit from rising home prices,” said Rick Sharga, executive vice president of market intelligence for ATTOM. “Record levels of home equity provide financial security for millions of families, and minimize the chance of another housing market crash like the one we saw in 2008. But these higher home prices and rising interest rates make it extremely challenging for first time buyers to enter the market.”
Source: ATTOM, www.attom.com
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