Core Logic Report on Properties Returning to Positive Equity

Core Logic reported today that 791K properties Returned to positive equity.

The numbers are as follows:

• Nearly 6.4 million (13.0%) Mortgaged Properties are still underwater.
• The national aggregate value of negative equity decreased $33.7B to $397B at the end of the third quarter.  this improvement was driven by rising home prices.
• Under-equitied borrowers (less than 20% home equity) account for 20.4% of the 48.9M residential properties with a mortgage.
• Near-negative equity (less than 5% home equity) account for 3.2% of the 48.9M residential properties with a mortgage.
• Average loan to value is 61.4%
• Negative equity residential properties are underwater by 33%
• 82% of homes valued at $200K or less have equity vs. 92% for homes above $200K