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Number of underwater homes declines

Of all residential properties in Charlotte, Concord and Gastonia with a mortgage, 6.7 percent, or 31,746, are in negative equity, according to CoreLogic’s second quarter report that was released on Sept. 25.

This is down 1.3 percent, or 5,826 homes, from the number of mortgages that were in negative equity in the first quarter of 2014.

The number of mortgages that were near negative equity in the second quarter was 2.8 percent, or 13,258 homes, compared with 3.8 percent of first quarter mortgages, or 17,963 homes, that were near negative equity.

These numbers align with national mortgage trends, which saw an overall 2 percent decrease in the number of homes with negative equity in the second quarter from the first quarter. About 5.3 million homes, or 10.7 percent of those with a mortgage, had negative equity in the second quarter compared with 12.7 percent, or 6.3 million homes, in the first quarter.

Nearly 950,000 residential properties returned to positive equity in the second quarter this year, according to the report.

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