{"id":19667,"date":"2021-11-16T13:51:08","date_gmt":"2021-11-16T13:51:08","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=19667"},"modified":"2021-11-16T13:51:08","modified_gmt":"2021-11-16T13:51:08","slug":"40-of-properties-considered-equity-rich","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/40-of-properties-considered-equity-rich\/","title":{"rendered":"40% of Properties Considered Equity-Rich"},"content":{"rendered":"

40% of Properties Considered Equity-Rich<\/h1>\n
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Homeowners are striking gold in real estate. The percentage of financed homes that were equity rich in the third quarter grew to nearly 40%, up from 28.3% a year ago, ATTOM Data Solutions reports. A home is considered equity rich when the combined estimated amount of loan balances on the property is no more than 50% of the estimated market value.<\/p>\n

\u201cHomeowners across most of the United States could sit back with a smile yet again in the third quarter and watch their balance sheets grow as soaring home prices pushed their equity levels ever higher,\u201d says Todd Teta, chief product officer at ATTOM Data Solutions, a real estate data firm. \u201cFor sure, some uncertainty lies ahead as other key market barometers have been a bit shaky as of late. And the coronavirus pandemic remains a threat. But there is no doubt that homeowners continue benefiting big-time from the relentless home price increases we are seeing around the country.\u201d<\/p>\n

Most of the top equity-rich places are clustered in the West and South. The states with the largest upticks in equity from the second quarter to the third quarter were Utah, where the percentage of mortgaged homes considered equity-rich increased from 45.5% to 60.9%; Arizona, up from 39.7% to 53.2%; Idaho, up from 54.2% to 65.1%; North Carolina, up from 28.4% to 38.6%; and Nevada, up from 34.9% to 44.9%.<\/p>\n

Broken down by metro area, the places with the highest share of mortgaged properties that were equity rich in the third quarter are:<\/p>\n