(function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start': new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0], j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src= 'https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f); })(window,document,'script','dataLayer','GTM-5WB8HLVL'); Underwater Mortgages Decline in Portland | Hamilton Zanze

Underwater Mortgages Decline in Portland

hamilton-zanze September 02, 2013

For the first time since 2012, fewer than 30% of Portland’s single-family homes were underwater in Q2 2013, according to Zillow. Only 22.3% of Portland homeowners owed more than the value of their homes, slightly less than the national average of 23.8% and down from 25.5% in Q1 2013. In addition, only 7.6% of those underwater owed twice their home’s value, compared to the national rate of 13.4%.

This decline in underwater mortgages comes as a result of steadily increasing single-family home prices, which jumped 10.5% year-over-year to $313,900 in June, as reported by the Regional Multiple Listing Service.

Read more at Portland Business Journal

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