CoreLogic: Nearly 1 million houses float back into positive equity

By Brena Swanson

• June 12, 2013 • 4:00am

Approximately 850,000 more residential properties returned to a state of positive equity during the first quarter of 2013, according to the CoreLogic first quarter home equity report.

The total number of mortgaged residential properties with positive equity stands at 39 million, the research firm found.

“During the past year, 1.7 million borrowers have regained positive equity. We expect the pent-up supply that falling negative equity releases will moderate price gains in many of the fast-appreciating markets this spring,” said Mark Fleming, chief economist for CoreLogic.

“The negative equity burden continues to recede across the country thanks largely to rising home prices,” said Anand Nallathambi, president and CEO of CoreLogic.

 

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