Photo credit: Bryan Davis
Alabama homes post equity gain in 4Q compared to 2015
Topics: Affordable Housing, Appraisal, Residential Real Estate
The number of mortgaged homes with negative equity stood at 2.1 percent for the state of Alabama during the fourth quarter.
According to CoreLogic's Fourth Quarter Equity Report from 2016, Alabama's equity share over its 93,000 total mortgaged homes was 97.9 percent.
The average loan to value in Alabama was at 64.4 percent, compared to 55.5 percent for the nation. The average equity share for the United States was 93.8 percent.
As indicated by the map below, Alabama posted a positive year-over-year equity gain (per borrower) of $8,000. The majority of Alabmaa's Southeastern neighbors fell between $8,000 and $14,000 in equity gains, with the exception of Florida which posted an average borrower gain of $17,000.