Here is another great graph that I got from Zillow giving an overall picture of our market. The blue line shows a change in home values. The light green bar shows positive median owner equity. And the small dark green bar shows the median down payment.
The positive thing to me is that many people still have positive equity in their home even if they bought at the peak. Unfortunately on the other hand, many people do not have positive equity in their home. Many have negative equity and owe more on their house than what it's current market value is. If you fear that you may have negative equity in your home please call me at 609-916-7342 ext 704 for a free analysis. We have solutions to help people that are in a negative equity situation. Call me today.