Where is equity being lost?
With conflicting signs regarding a possible stabilization of the real estate market, it is becoming clear that as a country, the real estate sector is improving, however marginally, but specific cities and metropolitan statistical areas (MSAs) are struggling on a local level.
According to Forbes, Modesto, California is losing equity worse than any other city in America. In creating its list, Forbes examined data from Economy.com and Equifax and ranked them based on data from the first quarter of this year.
The top 11 worst markets for equity:
- Modesto, CA
- Cape Coral-Fort Myers, FL
- Phoenix-Mesa-Glenda, AZ
- Las Vegas-Paradise, NV
- Oxnard-Thousand Oaks-Ventura, CA
- Stockton, CA
- Merced, CA
- Reno-Sparks, NV
- Riverside-San Bernadino-Ontario, CA
- Anchorage, AK
- Bremerton-Silverdale, WA
Equity in your market
Is home equity holding steady in your market or are homeowners losing equity rapidly? What is the scene like where you practice? Let us know in the comments, we’d like to hear what agents in the field are experiencing and if it matches what Forbes’ research shows.
CC Licensed image courtesy of cafemama via Flickr.com.