Despite rising home values, millions still underwater

she recalled. Despite rising home prices, 13 million borrowers, or 25.4 percent of all homeowners with a mortgage, still owe more on their mortgages than their homes are worth, according to a new.

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However, even with average national home values back above their pre-crisis highs, CoreLogic’s most recently quarterly survey of national homeowner equity found that there are still 2.2 million homes underwater in the US – a sign of just how bad the last bubble was, and a warning for where we might be headed.

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Fast-rising home prices brought 1.5 million borrowers up from underwater on their mortgages in 2015, but there are still twice as many drowning. In total, 3.2 million homeowners nationally still owe more on their mortgages than their homes are currently worth, according to a new count by Black Knight Financial Services.

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"Widespread rising home values during the past year have helped chip away at negative equity nationwide, helping many homeowners who were only modestly underwater to come up for air. For those.

Millions still drown in debt despite rising home values – Finance Post Thanks to increasing home values this year, more than three million people in the U.S. who had owed more on their homes than they were worth have risen above water on their debts.

More than 3 million underwater homeowners have returned to positive equity in the past year, due mainly to rising property values. However, it’s going to take years before a majority of homeowners who are underwater on their mortgages return to positive equity.

In a typical short sale, a bank allows an underwater. homes are worth, several million of whom are at high risk of default, short sales may still make sense. Still, the increase in home prices is.

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The National Association of Realtors said Thursday that homes sold last month at a seasonally adjusted annualized rate of.

Despite rising home prices, there are still some 9.8 million households underwater, representing 19.4 percent of all mortgaged homes-nearly one out of every ve such homes.

Millions of homeowners still underwater, despite price gains. 7.1 million, are still underwater — that’s nearly 15 percent of all homeowners, according to CoreLogic, a residential property.