Negative housing equity disappearing slowly in ABQ - Albuquerque Journal

Negative housing equity disappearing slowly in ABQ

Negative equity in the housing market, one of the hangovers from the housing bubble, is disappearing in the Albuquerque metro area at a comparatively slow rate, according to Irvine, Calif.-based CoreLogic.

As of the third quarter, 8.7 percent of homes with a mortgage were in negative equity in the area, meaning they were worth less than what was owed on the mortgage, down from 9.8 percent in the third quarter of 2015 and 11.3 percent in the third quarter of 2013.

The negative equity rate in the state was a slightly lower 8.4 percent in the third quarter, down from 8.9 percent in the third quarter of 2014 and 10.3 percent in the third quarter of 2013. Homes with negative equity are often called “underwater.”

The average rate nationwide was 8.1 percent in the third quarter, down from 10.4 percent last year and 13 percent in the third quarter of 2013.

Home » Business » Most Recent Biz News » Negative housing equity disappearing slowly in ABQ


Albuquerque Journal and its reporters are committed to telling the stories of our community.

• Do you have a question you want someone to try to answer for you? Do you have a bright spot you want to share?
   We want to hear from you. Please email yourstory@abqjournal.com

taboola desktop

1
Pâtisserie opens storefront location in Albuquerque
ABQnews Seeker
For the past two years, the ... For the past two years, the pastries of Blue Door Pâtisserie could be found displayed inside glass cases at Albuquerque’s Sawmill Market near Old ...
2
Home builder is No. 1 small company in Top ...
ABQnews Seeker
Abrazo Homes may be a newer ... Abrazo Homes may be a newer homebuilder for the New Mexico community, but the company's employees say it has already established a great team ...
3
Construction firm is No. 1 mid-size company in Top ...
ABQnews Seeker
Bradbury Stamm Construction, which has more ... Bradbury Stamm Construction, which has more than 150 employees in New Mexico and over 250 overall across two states, is a place that employees ...
4
Credit union is No. 1 large company in Top ...
ABQnews Seeker
Employees at Nusenda Credit Union say ... Employees at Nusenda Credit Union say they feel they are making a difference in the lives of members. The company, founded in 1936 as ...
5
Stocks rally, driving Wall Street to a rare winning ...
Money
Stocks racked up more gains on ... Stocks racked up more gains on Wall Street Friday, as the S&P 500 had its best day in two years and just its second ...
6
Asian shares gain, tracking Wall Street advance
Money
Shares were higher in Asia on ... Shares were higher in Asia on Friday, tracking gains on Wall Street, where the market is headed for its first weekly gain after three ...
7
Low-cost airline has stopped ABQ service
ABQnews Seeker
Allegiant Air halted Sunport routes in ... Allegiant Air halted Sunport routes in May
8
New Mexico's unemployment rate dips slightly in May
ABQnews Seeker
But joblessness is still highest of ... But joblessness is still highest of all 50 states.
9
Commission takes steps toward new Tucumcari hospital
ABQnews Seeker
The Quay County Commission on June ... The Quay County Commission on June 13 took several significant steps to building a new hospital to replace the aging Trigg Memorial Hospital in ...