Homes financially underwater?
Not so much anymore.
The data analytics firm CoreLogic reported this week that in the Tacoma-Lakewood area, 19,685 homes or 10.6 percent of all residential properties with a mortgage, were in “negative equity” at the end of the first quarter this year.
These figures compare with 30,598 homes, or 16.6 percent of all mortgaged homes, that were in negative equity in the area at the end of the first quarter last year. At the end of the fourth quarter 2014, 23,036 homes, or 12.5 percent, were underwater.
Sign Up and Save
Get six months of free digital access to The News Tribune
Among other data in Tuesday’s report:
• Nevada had the highest percentage of mortgaged homes in negative equity at the end of the first quarter, at 23.1 percent, followed by Florida (21.2 percent), and Illinois and Arizona (both16.8 percent).
• Statewide in Washington, 5.4 percent of mortgaged homes were underwater. In Oregon, 5 percent; in Idaho, 7.6 percent.
• Texas had the highest percentage of mortgaged homes in positive equity (97.7 percent), followed by Hawaii (96.9 percent), Alaska and Montana (96.8 percent) and North Dakota (96.2 percent).
• Among metropolitan areas, Tampa-St. Petersburg-Clearwater in Florida had the highest percentage of underwater homes at 23.1 percent. Areas in Illinois, Arizona, Southern California and Michigan followed.
• Among the 25 largest statistical metropolitan areas, Houston-The Woodlands-Sugar Land in Texas had the highest percentage of mortgaged properties with positive equity, at 97.9 percent. The Greater Portland area came in at 97 percent, third place behind Denver.