Number of Underwater St Louis Homeowners Falls To Lowest Level Since Last Year

During the 3rd quarter of this year, 14.4% of the homeowners in St Louis with a mortgage were “seriously underwater”, meaning they owe at least 25 percent more than the estimated value of their home, according to a report just released by ATTOM Data Solutions. This is the lowest rate this year, down from 15.6% in the 2nd quarter and down from 14.7% in the first quarter of 2018.  For the last quarter of 2017, St Louis homeowners that were seriously underwater had fallen to 13.8%.

Kansas City and Chicago have fared better over the past 5 years…

As the table below illustrates, our neighbors to the west and northeast, Kansas City, MO and Chicago, IL, have both seen a greater margin of improvement in their underwater homeowners over the past 5 years.  Kansas City went from 23.1% of their homeowners with a mortgage being seriously underwater in the 3rd quarter of 2013 to 9.8% during the 3rd quarter of this year, a reduction of 58% in the rate of underwater homeowners.  Chicago, during the same period, went from 35.8% to 13.2%, a reduction of 68%. Meanwhile, here in St Louis, the rate went from 25.4% to 14.4%, a reduction of 40%.

St Louis Seriously Underwater Homeowners – 3rd Quarter 2018

St Louis Seriously Underwater Homeowners - 3rd Quarter 2018



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