General World News

Almost half of homes in the US are now ‘equity-rich’: ATTOM

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 ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com