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Homeowner Equity Surges But Does That Tell The Full Story?

Posted by Sami Thalji | Aug 06, 2021 | 0 Comments

ATTOM Data release a reportATTOM Data release a report estimating that 34.4 percent of mortgaged residential properties are "equity rich." Equity rich is defined as the combined estimated amount of loans secured by a property are no more than 50% of that property's estimated market value. In lay terms, at least 50% of the home's value is equity. However, it is important to note that this report doesn't tell the entire story, especially in Florida and throughout the South where those numbers are not as strong. The equity rich properties are all packed into small percentage of zip codes with the great majority of properties located in the Northeast and West with California holding the largest share. The largest decline in underwater properties in 2021 has been in the South and West. However, the South also has the smallest percentage of equity rich properties. I am taking some liberties here and making some inferences but from this limited information it seems that the majority of Floridians with mortgage properties are property somewhere between slightly upside down and having some equity once we see a price stabilization overtake the market with a probably 10-15% drop in Florida home values. Just a guess.  

About the Author

Sami Thalji

Sami Thalji is a native Floridian, born in Clearwater and raised in St. Petersburg, Florida. Sami graduated from Osceola High School in Seminole, Florida before attending and receiving both his Bachelor of Science and Juris Doctor from the University of Florida in Ga...

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