Number of Equity-Rich St Louis Homeowners Increases In 3rd Quarter

According to a report just released by ATTOM Data Solutions, 16.9% of the homeowners in St Louis with a mortgage are “equity-rich”, meaning their loan balance is 50% or less of their home’s estimated value.  As the table below illustrates, this is an increase from 15.8% during the 2nd quarter as well as the 1st quarter of this year.

St Louis increase in equity surpassed the U.S. average but fell behind Kansas City and Chicago…

As the table below shows, during the past 2 years, the percentage of equity-rich homeowners in St Louis increased from 16.0% to 16.9%, an increase of nearly 6%.  However, in Kansas City, the rate went from 12.0% to 21.0%, an increase of 75% and in Chicago from 15.0% to 16.8% for an increase of 12%.  Nationally, however, the rate increase just 1% during the same period, from 23.4% to 25.7%.

St Louis Equity-RIch Homeowners 3rd Quarter 2018

St Louis Equity-RIch Homeowners 3rd Quarter 2018

 

Homeowner’s Equity Hits Record High

Homeowner’s equity (the difference between current home value and the total amount of debt against the home) has risen to a record level in the U.S. at $15.189 Trillion as of the 2nd quarter of this year, according to reports from the St Louis Fed Reserve.   As the chart below illustrates, this level is even higher than the previous peak in 2006 at the tail-end of the housing bubble when equity was at $13.417 Trillion.

Homeowner’s Equity In Real Estate

(Click on chart for live, interactive chart with current data)
Homeowner's Equity In Real Estate