Morning Minute: More U.S. homeowners are gaining equity in their homes

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The home equity picture is improving for more homeowners as the number of seriously underwater properties fell 1.2 million in the first quarter of this year compared to a year ago, according to the Q1 2017 U.S. Home Equity & Underwater Report from ATTOM Data Solutions.

During the same time, the number of equity rich properties (those where the combined loan amount is 50 percent less than the estimated value) climbed by 1.4 million since last year. Illinois still ranks among the states with the highest share of seriously underwater properties, coming in third with 16.5 percent. Read more from RealtyTrac.

In other headlines:

Area home sales down 13.2 percent in April – State Journal-Register

Inventory Shortages Are Slowing Down the Market – Keeping Current Matters blog

7 Questions to Ask at an Open House That Uncover the Truth, Warts and All – Realtor.com

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