Skip to main content

Q1 Negative Equity Share Down to 4.1 Percent

Phil Hall
Jun 06, 2019
Homeowners with mortgages on their residences saw their equity increase by 5.6 percent year-over-year during the first quarter, according to data from CoreLogic

Homeowners with mortgages on their residences saw their equity increase by 5.6 percent year-over-year during the first quarter, according to data from CoreLogic. This represents a gain of nearly $485.7 billion since the first quarter of 2018, with the average homeowner gaining $6,400 in home equity over the 12-month period.
 
Some states experienced significant gains: Nevada’s homeowners gained an average of approximately $21,000, while Idaho homeowners saw an average of approximately $20,700 in gains and Wyoming homeowners gained an average of $20,300.
 
During the first quarter, the total number of mortgaged homes in negative equity decreased by one percent year-over-year to 2.2 million homes or 4.1 percent of all mortgaged properties, while the number of mortgaged properties in negative equity during the first quarter 2019 fell 11 percent, or 268,000 homes, from 2.5 million homes, or 4.7 percent of all mortgaged properties, from the first quarter of 2018. The national aggregate value of negative equity was approximately $304.4 billion at the end of the first quarter, up by approximately $2.5 billion from $301.9 billion in the fourth quarter of 2018 and up year-over-year by approximately $18 billion from $286.4 billion in the first quarter of 2018.
 
“A moderation in home-price growth has reduced the gains in home-equity wealth and will likely slow the growth in home-improvement spending in the coming year,” said Frank Nothaft, chief economist for CoreLogic. “For larger remodeling projects, homeowners often choose to cash-out some of their home equity through a first-lien refinance or placement of a second lien.”
Homeowners with mortgages on their residences saw their equity increase by 5.6 percent year-over-year during the first quarter, according to data from CoreLogic

 
Published
Jun 06, 2019
Embrace Home Loans Hires Castiglioni As VP Of Market Growth

Former Wells Fargo exec also will manage growing national condo program

Industry News
Sep 23, 2021
Guaranteed Rate Opens New Branch In Southwestern Michigan

Guaranteed Rate expanded its presence in Southwester Michigan, after opening a new branch in St. Joseph

Industry News
Sep 22, 2021
Chinese Property Giant Evergrande Falters, Threatening U.S. Investors

On Monday, investors across three continents dumped their stocks, mainly out of fear that the world’s two largest governments — the United States and China — would undercut the beginnings of a global economic recovery. 

Industry News
Sep 22, 2021
Compass Mortgage Expands In Four Additional States

Compass Mortgage is now licensed in Virginia, Washington, North Carolina and South Carolina.

Industry News
Sep 22, 2021
Enact Holdings Completes IPO

Genworth Financial Inc. announced the completion of the initial public offering for its subsidiary Enact Holdings Inc.

Industry News
Sep 21, 2021
Offerpad Expands Into Kansas City, St. Louis

Tech-Enabled Platform For Real Estate Transactions Now In 20 Markets

Industry News
Sep 20, 2021