Underwater homes come up for air in Miami-Dade

Florida still ranks second-worst for underwater homes in nation, after Nevada

TRD MIAMI /
Dec.December 15, 2015 02:00 PM

As home prices continue rising in Miami-Dade County, the number of people who owe more than what their homes are worth keeps dropping.

A new report from CoreLogic said the number of such homeowners dropped significantly in Miami-Dade during the third quarter.

Out of all the county’s homes with a mortgage, 22.2 percent, or 98,305 residences were underwater during that period. That’s a big decrease compared to the 127,232 homes with negative equity in the third quarter of 2014.

Home prices in Miami-Dade have been steadily increasing for years, though recent reports show the curve is starting to level off.

Despite this, Florida remains one of the country’s worst offenders for underwater homes, with 17.8 percent of its homeowners owing more on their mortgages than what their homes are worth.

The only other state that has a larger share of underwater homes is Nevada, with 19 percent. — Sean Stewart-Muniz 


Related Articles

arrow_forward_ios
Rendering of Belmont Village Coral Gables and Baptist Health South Florida CEO Brian L. Keeley

Baptist, Belmont gain approval for luxury senior living in Coral Gables

Baptist, Belmont gain approval for luxury senior living in Coral Gables
9885 Palomino Drive (Credit: Google Maps)

Resort Lifestyle Communities scores $36M construction loan for Lake Worth senior housing project

Resort Lifestyle Communities scores $36M construction loan for Lake Worth senior housing project
5010 Nob Hill Road (Credit: Google Maps)

Sunrise affordable senior housing facility sells for $30M

Sunrise affordable senior housing facility sells for $30M
Mark Zilbert

Let’s make a deal? Some resi sellers in Miami-Dade slash asking prices

Let’s make a deal? Some resi sellers in Miami-Dade slash asking prices
(Credit: iStock)

Home sales dropped big time in South Florida in April

Home sales dropped big time in South Florida in April
 Rendering of Father Marquess-Barry Apartments with Matt Rieger

HTG scores financing for senior affordable housing in Overtown

HTG scores financing for senior affordable housing in Overtown
Renderings of different versions of the project with Matt Rieger

HTG plans 1,000-unit affordable housing complex in Miami’s Overtown

HTG plans 1,000-unit affordable housing complex in Miami’s Overtown
Pharrell Williams (Credit: Ethan Miller/Getty Images)

South Florida by the numbers: Bright spots in a challenging market

South Florida by the numbers: Bright spots in a challenging market
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...