Oklahoma! Right Side Up
Tulsa, OK – Survey: Okla. has fewest "upside-down" home values
TULSA, Okla. (AP) A survey by a business data company has found Oklahoma has the lowest percentage of people who owe more on their homes than the home is worth.
The survey release Tuesday by CoreLogic says 5.9 percent of mortgage holders in Oklahoma have negative equity compared to 23.7 percent nationwide. The highest rate is in Nevada where 69.9 percent of mortgage holders owe more than the home is worth.
Realtor John Hausam in Tulsa says the low rate in Oklahoma is likely due to the state not being a big part of the housing bubble in which home prices in many regions rose dramatically.
The survey included 47 million mortgages that account for 85 percent of all home loans. Seven states are not included in the survey.
Information from: Tulsa World, http://www.tulsaworld.com