US Home Equity & Underwater Report

SOURCE finance.yahoo.com
Approximately 1 in 37 homes in the US are seriously underwater, with higher numbers in southern states. This is based on data from the first-quarter 2024 US Home Equity & Underwater Report from ATTOM, a real estate data firm.

Key Points

  • 2.7% of homes in the US have loan balances at least 25% more than their market value.
  • Government stimulus and rising property prices during the pandemic benefited homeowners.
  • Higher interest rates may be cooling the housing market.
  • Southern states like Kentucky, West Virginia, Oklahoma, and Arkansas have seen an increase in seriously underwater homes.

Pros

  • Data provides insights into the current state of the housing market in the US.
  • Highlights the impact of government stimulus and rising property prices during the pandemic.

Cons

  • Higher interest rates may cool the housing market, affecting homeowners negatively.
  • Southern states are experiencing higher shares of seriously underwater homes.