The Dallas Morning News) reports that By the end of 2011, about 93,000 Dallas-area homeowners were upside down on their mortgages. They cite CoreLogic DATA for this statistic. This is up one-tenth of a percent from fourth quarter 2010, when the negative equity rate was 12.2%.
However, despite the increase, the negative equity share is better than in 2009, when nearly 30% of Dallas-area homes were not worth the remaining mortgage balance. Compared to the rest of the country, Dallas is faring better. Nationally, over 22% of homes with a mortgage were in negative (-) equity by the end of 2011, or about 10.7 million properties.
Statewide, Texas has the tenth lowest negative equity rate, with 10.2% of homes valued less than their mortgages. At 61%, Nevada had the highest negative equity rate, followed by Arizona (48%) and Florida (44%).
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