The market slowed a bit nationally, but not in S. Fla., which is seeing slower, yet positive home value gains. About 2 out of 3 homeowners (65.3%) are “equity rich.”
MIAMI – Homeowners across South Florida are seeing equity gains in their homes, despite the national housing market slowing down.
About 65.3% of residential properties with a mortgage in South Florida are considered “equity rich,” in the first quarter of this year, according to a report from ATTOM Data, a provider of nationwide property data.
To find how many properties were still building equity, researchers looked at mortgaged residential properties in the area with different levels of loan-to-value ratios. For a property to be “equity rich,” the combined estimated loan amount was no more than 50% of their estimated market value, meaning that the owner had at least 50% equity.
The data shows a steady uptick from the prior…