Housing markets with highest-share of equity-rich households undergo biggest corrections - Jacksonville Business Journal

A recent analysis by Irvine, California-based Attom Data Solutions LLC found 48.5% of mortgaged residential properties nationally were considered equity-rich in the third quarter. A property is considered equity-rich when the amount of loan balances secured by it is no more than 50% of its estimated market value.

By Attom's measurement, Q3 2022 continued to see gains in homeownership equity, the 10th consecutive quarterly increase, although at a slower rate than previous quarters. Equity positions were $5 trillion, or 46%, higher than pre-pandemic levels in Q3, according to Black Knight. In fact, it's because of record-high price appreciation that pandemic boom markets are disproportionately equity rich, said, executive vice president of market intelligence at Attom. Among markets tracked by Attom, the metropolitan statistical areas with the lowest amount of homeowner equity are slower-growth markets, but aren't cooling off as rapidly now.

Attom found 2.9% of mortgaged homes nationally are considered seriously underwater, meaning the balance of loans secured by the property is at least 25% more than its estimated market value.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jacksonville scores high in national real estate rankings - Jacksonville Business JournalJacksonville, along with 33 cities, received a rating of strong for investor demand.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

Jacksonville cancels Veterans Day parade as Nicole moves closer - Jacksonville Business JournalStorm surge is expected to lead to flooding in low-lying areas.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

Jacksonville one of the best areas for retired veterans - Jacksonville Business JournalThe First Coast is one of two Florida cities on the list.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

Jacksonville scores high in national real estate rankings - Jacksonville Business JournalJacksonville, along with 33 cities, received a rating of strong for investor demand.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

First Coast housing permit numbers rise in October - Jacksonville Business JournalThe number of housing permits issued on the First Coast was positive in October.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

ERC and other tax credits every small business should know about - Jacksonville Business JournalExperts say the pandemic and the resulting small-business relief programs ushered in a wave of new interest in federal tax credits. Here are five tax credits business owners should be aware of and how they can cash in.
Source: JaxBizJournal - 🏆 599. / 51 Read more »