Wednesday, February 8, 2023 10:30 am

Fewer Phoenix-area homeowners are underwater

house_underwater_life_preserver_mortgage*304Catherine Reagor, The Republic | azcentral

With every monthly gain in home values over the past two years, more metro Phoenix homeowners have come out from underwater on their mortgages. But the recovery has been uneven, with some West Valley areas bouncing back much more slowly than other regions.

Steady home-price increases in 2012 and 2013 have cut the number of underwater homeowners in the Valley by two-thirds, according to the latest data from Zillow, the real-estate database company.

In late 2011, as prices hit bottom in the real-estate crash, more than 60 percent of the Valley’s homeowners with a mortgage owed more on their loans than their houses were worth. A year ago, the underwater count fell to about 40 percent of homeowners.

Now, the number is 22 percent.



Share this!

Additional Articles

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

News Categories

City seeks developers for south Phoenix property

By Audrey Jensen | Phoenix Business Journal The city of Phoenix seeks developers for south Phoenix property. Phoenix is moving forward with a request for proposals for a city-owned, vacant lot on the south side of the city that has a long history.  The economic

Read More »