Underwater Homeowners and Homeowners without Equity Affecting Home Sales
SEATTLE—Slightly more than 13 million homeowners with a mortgage were in negative equity, or underwater, at the end of the first quarter, owing more on their mortgage than their home is worth. This brings the national negative equity rate, according to the Zillow Negative Equity Report, to 25.4 percent of all homeowners with a mortgage. Another 18.2 percent of homeowners with mortgages, while not considered underwater, likely do not have enough equity to afford to move. “Looking at the...