Negative-Equity Homes Fall: Another Sign We've Hit Bottom
The number of homes with negative equity -- when a homeowner owes more on it than its worth -- took a tiny tumble this month, according to CoreLogic.
Homes in negative territory still make up 24 percent of all residential properties with a mortgage, but the number fell by 100,000: From 11.3 million to 11.2 million.
That may not sound like much, but it nonetheless indicates that housing seems to have found a bottom. Another 2.3 million home borrowers have less than 5 percent equity in their homes.
Now for more good news, at least for residents of most states.