Price gains lift 400,000 homes above water

Zillow sees improvements in negative equity rates in 29 of 30 largest markets

Home price increases helped more homeowners regain some equity in their homes during the second quarter, according to an analysis by Zillow.

Zillow’s Negative Equity Report estimates that 30.9 percent of homeowners with mortgages owed more than their homes were worth at the end of June, down from 31.4 percent at the end of March. That translates into 15.3 million underwater homes — about 400,000 less than three months before.