How to Sink or Swim in the Housing Market

Sink or Swim in the Housing Market How to The housing market has had its rough patches throughout the years and some have even claimed that it has hit rock bottom. Though some speculate that the economy is recovering, many houses are still being reported as underwater. In this infographic, you'll get a glimpse into the status of the housing market and learn how many are struggling with their mortgages in the U.S. Best and Worst States for Housing Out of 11.1 million underwater home loan recipients, there are around 6.7 million first liens without home equity loans. () 8.8 Their average loan is Some people's homes are worth less than what they owe on their mortgage. [) $269,000 million people are in this situation. though their houses are underwater by around S70,000. Top 5 5 Worst States Places for Home Loans 121 for Home Loans (3] 12 Month Price Outstanding Mortgage Debt (in billions) Homes Underwater Change in Homes Michigan Rochester, NY 3.41% • +0.25% •34.7% • $165.45 Albany- Schenectady-Troy, NY • 4.01% • -0.90% Buffalo-Niagara Falls, NY Nevada • 4.22% • 61.1% • $109.9 •+3.92% Fayetteville, NC • 4.56% Arizona +1.14% • 48.3% Florida • $226.22 El Paso, TX Georgia •44.2% • 33% • $252.81 •$706 • 3.89% •+5.73% National Distribution of Home Equity 12% 10% 8% 6% 4% 2% 0% Loan-to-Value Ratio Las Vegas, has the 11th worst NV unemployment rate and is the top city for number of houses underwater. 14) Average Mortgage Interest Rates 151 10 30-year Fixed Rate 15-year Fixed Rate 1-year ARM 1986 1993 2000 2007 2010 June 2012 Year A Featured Look at Texas Fort Worth El Paso Fort Worth and Austin are two of the top 10 cities to relocate to. 18] The average home in El Paso is s Austin $101,500 The average home in Texas is 27.9 years old, ® National Home Price Index 191 40.0% .--- California Florida 30.0% USA II Texas 20.0% 10.0% 0.0% -10.0% -20.0% -30.0% 4Q-01 4Q-02 4Q-03 4Q-04 4Q-05 4Q-06 4Q-07 4Q-08 4Q-09 4Q-10 Average Cost of Homes in Major Texas Metropolitan Areas 10, 11, 12, 13, 14] $146,200 DALLAS $251,700 AUSTIN s115,200 FORT WORTH $155,900 HOUSTON $150,400 SAN ANTONIO CONCLUSION While housing markets in various areas are still struggling, they have definitely improved since 2008, when the market was considered to be at its lowest point. Many metropolitan areas in various states are offering more and more reasonably priced houses as the country stabilizes and becomes a more homeowner friendly place to live once more. [1] http://www.corelogic.com/about-us/news/asset_upload_file909_14436.pdf [2] http://www.msnbc.msn.com/id/45229431/ns/business-real_estate/t/cities- fewest-underwater- homeowners/#.T-tMYytYvcZ SOURCES [3] http://247wallst.com/2012/03/06/states-sunk-by-underwater-mortgages/3/ [4] http://www.huffingtonpost.com/2011/10/28/underwater-mortgages-american- cities-sunk-by-u_n_ 1064603.html#s441019&title=1_Las_VegasParadise [5] http://www.hsh.com/mtghst/mortgage-rates-by-week/2012 [6] http://www.bestplaces.net/housing/state/texas (7] http://www.bestplaces.net/city/texas/el_paso [8] http://www.bestplaces.net/docs/studies/americas_top_relocate_cities.aspx [9] http://recenter.tamu.edu/mreports/2012/EIPaso.pdf [10] http://recenter.tamu.edu/mreports/2012/DallasFWArl.pdf [11] http://recenter.tamu.edu/mreports/2012/AustinRRock.pdf [12] http://recenter.tamu.edu/mreports/2012/SanAntonio.pdf [13] http://recenter.tamu.edu/mreports/2012/HoustonSLBay.pdf [14] http://www.homeinsight.com/home-value/tx/fort_worth.asp Change from Previous Year Negative Equity Share ............ 50% to 54% 55% to 59% r9 01 %09 55% to 69% 75% to 79% 80% to 84% %68 01 % 8 90% to 94% %66 01 %96 100% to 104% 105% to 109% 110% to 114% 115% to 119% 120% to 124% 125% +