CoreLogic Reports 4 Million Residential Properties Returned to Positive Equity in 2013

March 06, 2014, Irvine, Calif. –

––Approximately 6.5 Million Residential Properties with a Mortgage Still in Negative Equity––

CoreLogic® (NYSE: CLGX), a leading residential property information, analytics and services provider, today released new analysis showing 4 million homes returned to positive equity in 2013, bringing the total number of mortgaged residential properties with equity to 42.7 million. The CoreLogic analysis indicates that nearly 6.5 million homes, or 13.3 percent of all residential properties with a mortgage, were still in negative equity at the end of 2013. Due to a small slowdown in the quarterly growth rate of the Home Price Index, the negative equity share was virtually unchanged from the end of the third quarter of 2013.*

Negative equity, often referred to as “underwater” or “upside down,” means that borrowers owe more on their mortgages than their homes are worth. Negative equity can occur because of a decline in value, an increase in mortgage debt or a combination of both.

For the homes in negative equity status, the national aggregate value of negative equity was $398.4 billion for fourth quarter 2013, compared to $401.3 billion for third quarter 2013, a decrease of $2.9 billion.

Click here to read more

Be Sociable, Share!

No comments yet.

Leave a Reply

What is 12 + 8 ?
Please leave these two fields as-is:
IMPORTANT! To be able to proceed, you need to solve the following simple math (so we know that you are a human) :-)