Admin

Fewer Home Owners Are Under Water

By
Real Estate Agent with Berkshire Hathaway HomeServices Professional Realty 200039


Some 21.5 percent of borrowers owed more than their homes were worth in the second quarter of the year. That’s compared with 23.3 percent in the first quarter.

"It is the paramount challenge facing housing markets," said Stan Humphries, Zillow.com's chief economist.

Humphries said that much of the improvement came from homes falling into foreclosure, wiping away negative equity.

Rising home values also improved the situation in 45 of the metropolitan statistical areas.

Source: Reuters News, Julie Haviv (08/09/2010)

Wade Kawahara
Dominion Real Estate Partners, LLC - Phoenix, AZ

Guy, that is welcome news.  I hope the trend continues.

Aug 09, 2010 10:32 AM