It's Not 2008 All Over Again!
While the housing market has picked up a lot of steam, especially here in the Birmingham Metro, the situation is not the same. In addition, to rising interest rates resulting in a leveling off of activity, homeowners are not in a negative equity position. According to a new report, just released, by
ATTOM Data Solutions more than 1-in-4 homes with a mortgage have at least 50% equity. The average homeowner in Alabama has 15.8% equity in their home.
(Note: states in blue have high levels of home equity.)