Home Equity Levels Increase More in Georgia Than In Any Other State
Home equity increased across most the US in the 2nd quarter of 2020, according to recent reports, with Georgia leading all other states. In over a quarter of all homes across the country, the balance on the mortgage was less than 50% of the home's market value. In Georgia, the number of homes with mortgage balances less than 50% of the market value was lower, at 20%. However, that number was a significant increase from the 17.5% of Georgia homes in the category the previous quarter. Real estate experts say that higher equity levels are helping to prevent many Corona virus related foreclosures.
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