Morning Minute: Fewer homeowners underwater on mortgages

Good news for the housing market — the number of homeowners who owe more on their homes than they are worth has dropped, according to a new report from CoreLogic. In the first quarter of 2012, 11.4 million, or 23.7 percent, of residential properties with a mortgage had negative equity, a decrease compared to the 12.1 million, or 25.2 percent, in the fourth quarter of 2011, CNN reports.

CoreLogic’s Chief Economist Mark Fleming called the improvement meaningful and in a news release said:

“Rebounding home prices, a healthier balance of real estate supply and demand, and a slowing share of distressed sales activity helped to reduce the negative equity share.”

This entry was posted in Consumer Information, Housing Market, Uncategorized by Stephanie Sievers. Bookmark the permalink.

About Stephanie Sievers

Stephanie Sievers is Associate Editor for the Illinois Association of REALTORS®. She serves as Associate Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.