Good news for homeowners, the majority of U.S. homes with a mortgage now have positive equity in their homes, according to a new report from CoreLogic.
An additional 273,000 U.S. mortgaged homes returned to positive equity during the third quarter of 2014, bringing the total to about 44.6 million, or 90 percent. CoreLogic President and CEO Anand Nallathambi said the trend should be positive for housing moving forward.
“Better fundamentals supporting homeownership in the face of higher rents should attract more first-time homebuyers to the market this year and next,” Nallathambi said.
Illinois continues to rank among the five states with highest number of negative equity, but the state’s level is headed down, falling from 15.4 percent “underwater” properties in the second quarter of 2014 to 14.1 percent in the third quarter. Read coverage of the CoreLogic report at, “90% of Mortgaged Homes Have Equity Again,” from REALTOR® Magazine.
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