On December 15, 2015, CoreLogig reported that nationwide 256,000 homeowners regained equity, and homeowners negative equity decreased $8.1 Billion to 2.6% in the 3rd quarter of 2015 from 8.7% in the 2nd quarter of 2015, and fell 12.8% from 3rd quarter of 2014; while borrowers with negative equity fell from 4.1 million in the 3rd quarter of 2015, from 4.3 million in the 2nd quarter of 2015, and dropped 20.7% from 3rd quarter of 2014.
State of Nevada had the most homes at 19.0%, and Phoenix-Mesa-Scottsdale, Arizona region had the most at 14.2% with negative equity in the 3rd quarter of 2015.
Locally, 95.5% of DC homes have positive equity followed by Virginia with 91.6% and then Maryland with 87.9%. To find the value of your home heading into 2016, just click here.
This is good news for the overall real estate market when more homeowners have positive equity in their properties. They are able to think about moving, thereby increasing inventory, and becoming buyers in their own turn. 2016 should be great for the DC real estate market with increase inventory!
For complete more detailed information about CoreLogig’s report homeowners negative equity increased in the 3rd quarter of 2015, please CLICK HERE