Homeowner equity soars across US

The biggest increases were in Wyoming, where the portion of equity-rich mortgaged homes rose from 26.1% in the first quarter to 33.9% in Q2, Maine, Florida, Mississippi and South Carolina.

By contrast, states where the equity-rich share of mortgaged homes decreased, or went up the least, during the same period were New Jersey (down from 38.6% to 37.9%), Utah, Idaho, North Dakota and West Virginia.

In addition, the largest declines in seriously underwater properties spread across the Northeast, South and Midwest, led by Mississippi (share of mortgaged homes seriously underwater down from 17% to 8.1%), Wyoming, Missouri, Maine and Connecticut.

The only states where the percentage of seriously underwater homes increased from the first quarter to the second quarter were Montana (up from 3% to 3.9%), New Jersey and New York.

Significantly, more than 90% of homeowners facing foreclosure have at least some equity.