Report: 10.4 percent of Manchester-Nashua mortgages in negative equity

CoreLogic reports a big drop from a year ago

Some 10.4 percent of residential properties in the Manchester-Nashua area remained in negative equity in the first quarter of 2016, according to a new report from data analytics firm CoreLogic.

According to CoreLogic, 7,905 homes with a mortgage were in negative equity in the first quarter, compared with 10,769, or 14.7 percent, the first quarter of 2015. In the fourth quarter of 2015, 8,262, or 10.9 percent, were underwater.

CoreLogic reported that an additional 2,458 properties, or 3.2 percent, were in near-negative equity for the first quarter of 2016, compared with 2,921, or 4 percent, a year earlier and 2,477, or 3.3 percent, in the fourth quarter of 2015.

Nationally, the total number of mortgaged residential properties with negative equity stood at 4 million, or 8 percent of all homes with a mortgage in the first quarter, a drop from 4.3 million homes, or 8.5 percent, in the previous quarter. In the first quarter of 2015, 5.1 million homes, or 10.3 percent, were in negative equity.

Categories: Real Estate & Construction