Nearly 200,000 residential homes are no longer underwater
March 20, 2013
Author: Support Services, e-PRO
Good News! According to CoreLogic's latest analysis, during the 4th quarter of 2012 nearly 200,000 more residential properties are no longer drowning. This brings the total to 1.7 million properties that have gone from negative equity to positive last year!
The analysis shows that the improvement in home prices is what has dropped the national aggregate value by $42 billion to $628 billion. According to Mark Fleming, the chief economist for CoreLogic, In the fourth quarter we again saw an improvement in the equity position of households Housing market improvements, particularly in the hardest hit states, are the catalyst for households to regain equity and become participants in 2013s housing market."
This trend should continue into 2013.