{"id":17648,"date":"2020-08-12T11:17:52","date_gmt":"2020-08-12T11:17:52","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=17648"},"modified":"2020-08-12T11:17:52","modified_gmt":"2020-08-12T11:17:52","slug":"home-prices-rise-more-owners-become-equity-rich","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/home-prices-rise-more-owners-become-equity-rich\/","title":{"rendered":"Home Prices Rise, More Owners Become \u2018Equity Rich\u2019"},"content":{"rendered":"

Home Prices Rise, More Owners Become \u2018Equity Rich\u2019<\/h1>\n
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Despite the pandemic, home values continued to climb in the second quarter, with 15.2 million residential properties in the U.S. considered \u201cequity rich,\u201d\u00a0according to a new report from ATTOM Data Solutions, a real estate data firm. That means the combined estimated amount of loans secured by those properties was 50% or less of their estimated market value. About 28% of properties in the second quarter were equity rich, up from 26.5% in the first quarter, according to the report.<\/p>\n

\u201cHomeowners saw their equity rise far and wide throughout the United States during the second quarter of this year in yet another sign of the housing market punching back against the coronavirus pandemic,\u201d says Todd Teta, chief product officer with ATTOM Data Solutions. \u201cMore property owners rose into equity-rich territory and escaped the seriously underwater lane, putting more money into the average household.\u201d<\/p>\n

The housing market still faces \u201cenormous challenges,\u201d given historically high unemployment, the recession, and the pandemic, Teta adds. \u201cIf that continues, owner equity will be seriously threatened,\u201d he cautions. \u201cBut for now, homeowners are enjoying the gains when it comes to what, for most, is their most significant asset.\u201d<\/p>\n

The Midwest and South saw the largest improvements in the share of equity-rich homes during the second quarter, according to the report. In Georgia, the share of equity-rich homes jumped from 17.5% in the first quarter to 20% in the second quarter. Other states that saw some of the largest improvements during the second quarter:<\/p>\n