CoreLogic’s quarterly equity report shows 548,000 residential properties in the U.S. regaining equity in the second quarter of 2016, while the total number of mortgaged residential properties with equity sat at 47.2 million.
- The percentage of negative equity homes dropped to 7.1 percent in the U.S., or roughly 3.6 million homes.
- Economists at CoreLogic believe home prices will rise another 5 percent over the year, which would free up another 700,000 residential properties from negative equity.
- Los Angeles ranked no. 4 in the top five metros with highest percentage of residences with equity in the second quarter.