Zillow, the Seattle-based online real estate marketplace, was out Thursday with its latest report on negative home equity, which it says still affects more than 10% of U.S. home owners.
SEATTLE, Aug. 18, 2016 /PRNewswire/ -- Both urban and suburban communities have a significant share of homeowners in negative equity five years into the recovery, according to the second quarter Zillow® Negative Equity Report.
Nationally, 13.7 percent of homeowners in urban regions and 11.2 percent of homeowners in suburban regions are underwater.
After the housing bubble burst, nearly a third of homeowners in the United States were underwater on their mortgages. As the market recovered, many homeowners have gained back the lost value on their homes, freeing them to sell or refinance.