Rate of Homes “Seriously Underwater” Increased Slightly in Q2

Irvine, CA, August 3, 2015—As of the end of the second quarter of 2015, 7,443,580 U.S. residential properties, or 13.3% of all properties with a mortgage, were seriously underwater, where the combined loan amount secured by the property is at least 25% higher than the property’s estimated market value, according to RealtyTrac’s Q2 2015 U.S. Home Equity & Underwater Report.

The second quarter underwater numbers were up from the previous quarter, when 13.2% of all mortgaged homes, or 7,341,922 properties, were seriously underwater, making Q2 the second consecutive quarter with a slight increase in both the number and share of seriously underwater properties.

However, they were down compared to Q2 2014 when 17.2%, or 9,074,449, U.S. homes with a mortgage were seriously underwater.

The share of seriously underwater homes peaked in the second quarter of 2012 at 28.6% of all homes with a mortgage.