Fewer Phoenix-area homeowners underwater, but still more than national average

underwater-room_00450317By Catherine Reagor, The Republic | azcentral.com

More metro Phoenix homeowners can now sell, refinance or even tap some equity.

Only 20.6 percent or 186,539 Valley homeowners are underwater now, according to a new report from real estate research firm CoreLogic. During the crash’s low point for home prices in 2011, nearly 50 percent of Phoenix-area homeowners owed more on their mortgage then their home was worth.

Nationally, about 13 percent of all homeowners are underwater.

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