Follow the Equity Trail
DAILY REAL ESTATE NEWS | WEDNESDAY, NOVEMBER 23, 2016
The number of equity-rich homeowners continues to grow, shows one study. Homeowners holding at least 50 percent of equity in their homes rose by 2.6 million compared to a year ago, according to new data from ATTOM Data Solutions in the third quarter. By the end of the third quarter, according to the study, there were more than 13 million equity-rich homeowners. That translates to 23.4 percent of all homeowners with a mortgage.
The five states with the most equity-rich homeowners are California (2.9 million), Florida (1.3 million), Texas (996,000), New York (713,000), and Pennsylvania (489,000). The two states with the highest share of equity-rich homeowners as a share of all homeowners with a mortgage are Hawaii (37.9%) and California (35.7%), according to RealtyTrac.
Source: “Equity Rich Homes Heat Map,” RealtyTrac (Nov. 17, 2016)