Rapidly rising home prices are bad news for prospective buyers, but they’re proving quite beneficial for homeowner equity.
That’s according to a new report from ATTOM Data Solutions that found that in the second quarter of 2024, 49.2% of mortgaged homes were “equity-rich,” defined as having a loan balance of less than half of the estimated market value of those homes.
It’s a 3.4 percentage point rise from the first quarter of 2024 and breaks a three-quarter streak of declines.
In addition, the number of homes with a mortgage balance of more than 25% of the property’s estimated market value — details ⇒
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