Negative Equity Report for Nevada

Q2 2016 NEGATIVE EQUITY DATA JUST RELEASED: LOWEST RATE OF UNDERWATER MORTGAGES IN NEVADA IN 7 YEARS

 

Nevada Reports 15.3% of Mortgages Underwater and Las Vegas Experiences 17.6% Negative Equity Share

 

This morning CoreLogic released its national Homeowner Equity Report detailing how many borrowers continue to report negative equity - meaning their house is worth less than the mortgage they owe.  In Nevada, an estimated 15.3% of borrowers were underwater on their mortgage.  With approximately 547,000 mortgages outstanding, that equates to 83,691 homes.  Nevada ranks the highest in the nation, followed by Florida (14.0%), Maryland (11.8%), Illinois (11.7%) and Arizona (11.6%).  The latest negative equity share is in sharp contrast to the 72.7% reported in Nevada at the beginning of 2010.

 

In Las Vegas, an estimated 17.6% of borrowers are underwater, suggesting a total of 70,928 homes with negative equity based on the reported 403,000 of outstanding mortgages.  Access the full report from CoreLogic here: http://www.corelogic.com/about-us/news/corelogic-reports-548,000-us-homeowners-regained-equity-in-the-second-quarter-of-2016.aspx.