Negative equity is not only down in Boston, but almost entirely absent in the area’s housing market.
Last week, we reported a much-needed dosage of good news – that after peaking a few years back, negative equity in Boston has fallen an insane 56.6 percent, keeping it well ahead of the national average.
This week, we’re reporting even more good news – simply, that across all price points, negative equity in Boston is extremely low.
Based on exclusive numbers that Zillow provided us, here is now it breaks down:
- In Boston’s upper-tier markets, which Zillow considers homes priced $489,650 and above, only 3.92 percent of homes are in negative equity.
- In the middle-tier markets, which are priced $295,850 to $489,650, that share rises to just 6.71 percent.
- And finally, in the lower-tier markets priced $295,850 and below, that share increases to 17.14 percent.
See our graph below to see how Boston numbers compare with other major metro areas: