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More Tampa Bay homeowners now have positive equity

By Times Staff Writer
Published: December 7, 2017 Updated: December 7, 2017 at 01:34 PM
More than 90 percent of Tampa Bay homeowners with mortgages now have equity in their property. (AP file photo, 2017]

Times Staff Writer

More than 90 percent of Tampa Bay homeowners with mortgages now have equity in their property. According to CoreLogic, the percentage of bay area borrowers who still owe more than their homes are worth dropped to 8.8 percent in the third quarter of this year compared to 13.1 percent in the same period a year earlier. Nationally, homeowners have gained an average of $14,888 in home equity over the past year. That is the largest increase in more than three years.