The Real Deal Miami

U.S. negative equity rate falls

September 12, 2012 09:00AM

The rate of U.S. homeowners in negative equity —that is, those who owe more on their mortgages than their homes are worth, fell in the second quarter of 2012 compared to the previous quarter, according to a report from CoreLogic. A total of 10.8 million, or 22.3 percent of all residential properties with a mortgage were in negative equity, down from 11.4 million properties, or 23.7 percent, in the first quarter. In the Miami-Miami Beach-Kendall metropolitan area, the rate stood at 43.2 percent, however. That represented a total of 211,276 residential properties in negative equity in the region. — Alexander Britell