A new data report from ATTOM determined that 43.3% of mortgaged residential properties during the first quarter were equity rich, down from 44.6% in the previous quarter. This marked the lowest share of equity rich residential properties since the fourth quarter of 2021.
ATTOM defined equity rich as the combined estimated amount of loan balances secured by those properties was no more than half of their estimated market value.
On the flip side, 3.2% of mortgaged residential properties were considered seriously underwater in the first quarter, up from 3% in the previous quarter and 2.8% in the first quarter of 2025. ATTOM defined seriously underwater as the combined estimated balances of loans secured by the properties were at least 25% more than the properties’ estimated market value.
The share of equity rich homes rose in just three states compared to the fourth quarter of 2025 and in six states compared to the first quarter of 2025. The states with the highest shares of equity rich homes during this period were Vermont (85.7%), New Hampshire (58.1%), Montana (57.7%), Rhode Island (57.2%), and Hawaii (55.8%).
The markets with the largest annual increases in their shares of seriously underwater properties were the District of Columbia (up from 3.8% to 5.3%), Mississippi (up from 6.6% to 8%), Louisiana (up from 10.5% to 11.8%), Kentucky (up from 7.3% to 8.5%), and Oklahoma (up from 5.5% to 6.6%).
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