Rising home prices helped 850,000 borrowers regain equity in their homes during the first quarter of 2013, according to the latest report from real estate analytics provider CoreLogic. According to the report, 9.7 million properties, or 19.8% of all properties with a mortgage, still had negative equity at the end of the first quarter. That is down from 10.5 million, or 21.7% of all residential properties with a mortgage, at the end of the fourth quarter. “The impressive home price gains of 2012 and the beginning of 2013 have had a big impact on the distribution of residential home equity,” said Dr. Mark Fleming, chief economist for CoreLogic. “During the past year, 1.7 million borrowers have regained positive equity.”
Posted on: Thu, 13 Jun 2013 17:35:56 +0000
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