A home being equity-rich means that the combined estimated amount of loans secured by the property is 50% or less of the estimated market value.
In short, it means homeowners themselves have accumulated at least half of the equity in their homes.
In California, the percentage of mortgaged homes considered equity-rich grew to 46.1% in the fourth quarter (up from 39.7% in the third quarter).
The 10 with the highest shares of equity-rich properties in the fourth quarter of 2020 again were in the West, with the top five in California.
Los Angeles is at 51.7%.
Source: ATTOM Data Solutions, a real estate research firm.
