The housing market isn’t as frenetic as it was just a few years ago. But while the market has calmed and skyrocketing prices have finally slowed, that doesn’t mean homeowners aren’t still in great shape. In fact, according to new numbers from ATTOM Data Solutions, homeowners are doing historically well. ATTOM’s latest U.S. Home Equity and Underwater Report found the share of homes that could be considered equity rich – meaning the combined loan balances secured by those properties is less than half their market value – remains high by historical standards. The data shows 46.2 percent of mortgaged homes could be considered equity rich during the first quarter of this year, down from a peak of 49.2 percent during the second quarter of last year. Rob Barber, ATTOM’s CEO, says the dip isn’t cause for concern. “Home equity rates are near their highest points in recent years and the dip we’ve seen early this year in the proportion of equity-rich homes shouldn’t cause too much concern,” Barber said. “In each of the two previous years, the first quarter marked the lowest point of the year before the proportion of equity-rich homes shot back up in the second quarter.” In other words, things are good and may get even better. (source)
