IRVINE, CA — RealtyTrac®
(www.realtytrac.com), the nation’s leading source for comprehensive housing
data, released its Q3 2015 U.S. Home Equity & Underwater Report. Highlights
of the report show:
· There were 6.9 million seriously
underwater (at least 25 percent underwater) U.S. residential properties at the
end of Q3 2015, down more than half a million from the previous quarter and
down more than 1.2 million compared to a year ago.
o A surge in home sales volume and prices in
the second and third quarters account for the dramatic drop in seriously
underwater homeowners.
· There were 10.5 million equity rich
(at least 50 percent equity) U.S. residential properties at the end of the
third quarter, down nearly a half million from the second quarter.
o Indicates more homeowners with equity are
leveraging that equity with a refinance, a move-up sale and purchase or by
cashing out of the housing market completely.
· Only one in three properties in
foreclosure was seriously underwater, the lowest level since RealtyTrac began
tracking in the Q1 2012 and down from a peak of 62 percent underwater in the
second quarter of 2012.
For a complete copy of the company’s news release,
please contact:
Ginny Walker
949.502.8300, ext. 268
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