The MReport Webcast: Friday 9/25/2014

The nation's negative equity rate dipped closer to single digits in the year's second quarter, according to new data released Thursday. Property information firm CoreLogic reported that nearly 946,000 homes returned to positive equity in the second quarter, meaning the mortgage holders owe less on their loan than the property's worth. With the most recent quarterly increase, CoreLogic estimates the total number of mortgaged homes with equity across the country has surpassed 44 million.

Out of all 50 states, Nevada had the highest percentage of underwater properties in Q2, posting a negative equity rate of 26.3 percent. Following that were Florida, Arizona, Illinois, and Rhode Island. Together, those top five states account for nearly one-third of negative equity in the United States. On the other end of the scale, Texas boasted the highest percentage of homes in a positive equity position, with 97.3 percent of properties above water.

Home sales in August retreated annually for the fourth straight month as home prices ticked up to a six-year high, RealtyTrac revealed in its latest sales report. According to the company's data, U.S. residential properties, including single-family homes, condos, and townhomes, sold at an estimated annual rate of 4 and a half million last month, down half a percent from July and 16 percent from August 2013. Higher-end home sales reportedly claimed a higher share of those sales, jumping 10 percent compared to last year and pushing the national median home price to $195,000, a six-year high for RealtyTrac’s data.