Scotsman Guide > News > March 2015 > News Story

 Enter your e-mail address and password below.


Forgot your password? New User? Register Now.

News Archives

Subscribe icon Subscribe to our weekly e-newsletter, Top News.

Underwater homes increase in fourth quarter, down for the year

The number of underwater homes increased nationally in the fourth quarter as home prices fell, pushing roughly 172,000 more borrowers into a situation where they owed more on a mortgage than their home could fetch on the market, according to CoreLogic.

But that shouldn't have people pushing the panic button, the company said.

Overall, 2014 ended with 1.2 million more people climbing out of a negative-equity situation than at the end of 2013, CoreLogic reported. Year-over-year in December, the number of underwater homes was down by nearly 19 percent. Some 89 percent of U.S. homes had equity to begin 2015.

The company also predicts that home prices will rise by 5 percent in 2015, lifting another million people out of an underwater situation.

In the fourth quarter, however, the number of underwater homes increased to 5.4 million, representing just less than 11 percent of all homes.The company also reported that near-negative equity situations are still a problem. Roughly 10 million homes, or one-fifth of all U.S. homes, have less than that 20 percent equity built up. This “under-equitied” situation can make it harder for a homeowner to refinance, buy and sell homes, CoreLogic said.  

At the state level, Nevada had the highest percentage of underwater homes at 24 percent, followed by Florida (23 percent) and Arizona (18 percent). Texas had the highest percentage of homes with equity at 97 percent.

“The share of homeowners that had negative equity increased slightly in the fourth quarter of 2014, reflecting the typical weakness in home values during the final quarter of the year,” Frank Nothaft, chief economist for CoreLogic, said in a news release.

 Nothaft said the company’s home price index declined 0.7 percent from September to December. Year-over-year, however, home prices were up nearly 5 percent, and the share of underwater homes fell by 2.6 percent.


Questions? Contact at (425) 984-6017 or

Get the latest news and articles from Scotsman Guide straight to your inbox.

Send me the following e-mails:

Learn more about Scotsman Guide e-mails

Thank you for signing up to receive e-mails from Scotsman Guide.

A confirmation e-mail has been sent to the address you provided.

For questions regarding your e-mail subscriptions please contact or call (800) 297-6061.

Fins A Lender Post a Loan
Residential Find a Lender Commercial Find a Lender
Follow Us:Visit Scotsman Guide Facebook pageVisit Scotsman Guide LinkedIn pageVisit Scotsman Guide Twitter page


© 2019 Scotsman Guide Media. All Rights Reserved.  Terms of Use  |  Privacy Policy