As home prices have increased, so has the share of homeowners who can consider themselves equity rich – meaning the combined amount of loan balances secured by their home is no more than half the home’s value. That’s a good position to be in as a homeowner and its one in which a significant share of homeowners find themselves, according to a new report from ATTOM Data Solutions. ATTOM’s third-quarter U.S. Home Equity & Underwater Report shows 47.4 percent of mortgaged homes in the country were equity rich in the third quarter. That’s down slightly from the second quarter but only by a little. Rob Barber, ATTOM’s CEO, says homeowner equity is still strong. “By all measures, homeowner equity around the country remained strong during the third quarter as millions of households kept benefitting from the nation’s extended runup in home values,” Barber said. Equity levels rose in 21 states during the third quarter, with the biggest improvements seen in the Northeast, including Connecticut, New Jersey, and New Hampshire. (source)
