In the second quarter of this year, another 759,000 U.S. properties are no longer “underwater” and have regained positive equity, bringing the total to 45.9 million, or 91 percent of all mortgaged properties in the country, according to a new report released today by CoreLogic. In a news release, CoreLogic President and CEO Anand Nallathambi said the negative equity impact is lifting in many areas of the country.
“The biggest reason for this improvement has been the relentless rise in home prices over the past three years which reflects increasing money flows into housing and a lack of housing stock in many markets,” he said. “CoreLogic predicts home prices to rise an additional 4.7 percent over the next year, and if this happens, 800,000 homeowners could regain positive equity by July 2016.”
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