Texas is leading the country in having the fewest homes underwater, which is yet another sign of how strong the housing market and demand for homes in many parts of the Lone Star State really is right now.
According to CoreLogic, a leading financial and real estate analytics company based in California, less than 2% of home owners in Texas owe more than their house is worth right now, which is especially the case here in the red hot DFW region. Based on findings in the report, about 8% of homeowners nationwide still owe more than the current value of their home, which is significantly higher than the estimated 1.8% of homeowners specifically living in the Dallas area.
For some rather jaw-dropping perspective, CoreLogic did a similar study back in 2009 right as the housing market collapsed and it was estimated that 30% of Dallas home owners were underwater on their home.
Along with Dallas, cities in the U.S. with the fewest underwater mortgages over the first quarter of 2016 include Denver, Houston, and San Francisco. On the flip side, Nevada has one of the highest percentages as it relates to homeowners with negative equity at 17.5%, with Florida not far behind at 15%.
Even with home prices in DFW steadily on the rise, it’s certainly nice to see home values also matching that upward trend.