In the first quarter 2019, the total number of mortgaged residential properties with negative equity decreased 1% percent from the fourth quarter 2018 to 2.2 million homes, or 4.1% of all mortgaged properties. On a year-over-year basis, negative equity fell 11% from 2.5 million homes, or 4.7% of all mortgaged properties, in the first quarter of 2018.
The national aggregate value of negative equity was approximately $304.4 billion at the end of the first quarter of 2019. This is up quarter over quarter by approximately $2.5 billion, from $301.9 billion in the fourth quarter of 2018.
Negative equity peaked at 26 percent of mortgaged residential properties in the fourth quarter of 2009, based on the CoreLogic equity data analysis which began in the third quarter of 2009.
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This graph from CoreLogic shows the percent negative equity by states.
On a year-over-year basis, the number of homeowners with negative equity has declined from 2.5 million to 2.2 million.