As America Grapples With Underwater Mortgages, New Jersey in Slightly Better Shape

Nearly 48.3% of mortgaged residential properties in the U.S. were equity-rich in Q3 2024, slightly down from 49.2% in Q2 but higher than a year ago. This status indicates that loan balances do not exceed half of the property's market value. While home prices remained stable, there were minor fluctuations in equity-rich and seriously underwater properties, which made up 2.5% of mortgaged homes. Gains were noted in the Midwest and Northeast, with Vermont leading at 86.4%, while declines occurred in higher-priced western states.