According to ATTOM Data’s Q1 2024 U.S. Home Equity & Underwater Report, 45.8% 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 half of their estimated market values. However, the report also shows that he portion of mortgaged homes that were seriously underwater rose slightly in the first few months of 2024, from 2.6% to 2.7% of all residential mortgages.
ATTOM says the largest increases were in the South, which already had some of the nation’s highest levels of seriously underwater mortgages. The largest quarterly increases were in Kentucky, West Virginia, Oklahoma, Arkansas and Delaware.
Click here to read the full report at ATTOM.
