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IRVINE, CA—Many of the homes with the most equity in the nation are concentrated in the western states, according to new research from ATTOM Data Solutions. The firm reports that the states with the highest share of equity-rich properties at the end of Q2 included Hawaii, California and Oregon.
In its Q2 2017 US Home Equity & Underwater Report, released today, the firm reports that at the end of the quarter, there were more than 14 million US properties that were equity rich—defined as those where the combined loan amount secured by the property was 50% or less of the estimated market value of the property. This figure was up by nearly 320,000 properties from the previous quarter and up by more than 1.6 million properties from a year ago, indicating a nationwide trend toward homeownership health.
Moreover, among 91 MSAs with a population of 500,000 or more, those with the highest share of equity-rich properties at the end of Q2 were San Jose, San Francisco, L.A., Honolulu and Portland, OR, showing a strong concentration in the west. States with the highest share of equity include Hawaii, California, New York, Vermont and Oregon.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
