News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
Prashant Gopal / Bloomberg Businessweek / May 28, 2013
About 22 million Americans may lack enough home equity to move, keeping property listings tight and limiting sales as the housing market recovers, Zillow Inc. (Z) said.
Forty-four percent of homeowners with mortgages owed more than their properties are worth or had less than 20 percent equity in the first quarter, the Seattle-based real estate data company said in a report today. Those people probably are locked in to their residences, because listing a house and purchasing a new one generally requires equity of at least 20 percent to meet costs such as a down payment and broker fees, Zillow said.Read More
Svenja Gudell / Zillow / February 20, 2013
According to the fourth quarter Zillow Negative Equity Report, the national negative equity rate continued to fall in the fourth quarter of 2012, dropping to 27.5 percent of all homeowners with a mortgage from 28.2 percent in the third quarter. The fourth quarter result also represents a significant decline from the one year ago level of 31.1 percent in the fourth quarter of 2011. Overall, almost 2 million American homeowners were freed from negative equity over the course of the year. However, 13.8 million homeowners with a mortgage remain underwater (Figure 1). Of all homeowners – roughlyRead More