08/11/21

Homeowners Building Home Equity

The real estate market has seen sellers as the top dog recently – and it looks like sellers might have even more excitement coming their way.

ATTOM recently released its second-quarter 2021 U.S. Home Equity & Underwater Report. The report shows that 34.4% of mortgaged residential properties in the U.S. were considered equity-rich in the second quarter. This is up from 31.2% in the first quarter.

Compared to the second quarter of 2020, homeowners saw equity-rich levels rise in all states. This is great news for the real estate market – the equity rise is the largest in two years and continues to help show that the housing market boom has continued for a 10th straight year.

The metro areas that were equity rich in the second quarter with the highest share of mortgaged properties:

  • San Jose, California: 69.4%
  • San Francisco, California: 64.9%
  • Los Angeles: 57.9%
  • Boise, Idaho: 57.4%
  • San Diego: 54.3%

For more real estate news, stop by AmeriTitle’s Blog.

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