Number of Atlanta Homeowners Underwater Decreases
New data from Zillow indicates that the number of homes underwater in the Atlanta area and around the country fell to below 10% in the last quarter of 2017 for the first time since the crash of the housing market. A home is considered 'underwater' when the owner owes more on the home mortgage than the property is worth. While home values continue to increase as the economy remains healthy throughout much of the US, home owners in certain areas with more stagnant economies remain vulnerable to falling underwater, especially buyers who purchased their homes with small down payments. In Atlanta, 9.9% of homes remain underwater.
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