ATTOM’s Q1 2022 US Home Equity and Underwater Report indicates that 44.9% of mortgaged residential properties in the US were considered to be equity-rich in Q1 2022.
This 44.9% of equity rich properties in Q1 2022 was up from 41.9% in Q4 2021 and from 31.9% in Q1 2021.
“Homeowners continue to benefit from rising home prices,” said Rick Sharga, executive vice president of market intelligence with ATTOM. “Record levels of home equity provide financial security for millions of families and minimize the chance of another housing market crash like the one we saw in 2008. But these higher home prices and rising interest rates make it extremely challenging for first time buyers to enter the market.”
ATTOM’s Q1 2022 US Home Equity and Underwater Report also indicates that just 3.2% of mortgaged homes, one in 31, were thought to be seriously underwater. This 3.2% was virtually the same as the 3.1% level in Q4 2021 and still well below the level of 4.7%, one in 21 properties, one year earlier.
Eight of the top 10 states with the highest levels of equity-rich properties were located in the West.
Leading states included:
Leading counties included:
Leading metros with populations greater than 500,000 included:
Leading zip codes with at least 2,000 residential properties with mortgages included:
States with the biggest improvements in equity-rich shares of mortgaged homes from Q4 2021 to Q1 2022 included:
States with the least improvements in equity-rich shares of mortgaged homes from Q4 2021 to Q1 2022 included: