Despite years of home-price gains, about 10 percent of U.S. homes with mortgages remain seriously underwater, according to a new Attom Data Solution report.
The report found that owners of 5.5 million homes, or 10.1 percent of all homes with mortgages, owe at least 25 percent more on the home than the home is worth.
In central Ohio, 51,043 homes, or 11.9 percent of mortgaged properties, remain seriously upside down. Five years ago, more than 30 percent of central Ohio homes were seriously underwater.
Columbus No. 25 in affordability ranking
Columbus is the 25th most-affordable big city in the nation, according to a new ranking by SmartAsset.com.
The financial website examined average mortgage payments, property taxes, insurance, income and closing costs in the nation’s 125 largest cities to come up with the list.
The most affordable city in the nation is Fort Wayne, Indiana. Toledo, at No. 6, is the only Ohio city to crack the top 10.
Central Ohio home prices up slightly from 2017
The median sales price of a central Ohio home was $208,600 during the second quarter of the year, up 5.5 percent from a year earlier — slightly higher than the national rise of 5.3 percent, according to a new report from the National Association of Realtors.
San Jose, California, remained the most expensive metro area in the nation during the quarter, with a median price of $1.4 million, 18.7 percent higher than a year ago. San Francisco, with a median price of $1.07 million, was the only other metro area to top $1 million.
With a median price of $94,400, the Youngstown area is the lowest-price housing market in the nation, followed by Cumberland, Maryland, with a median price of $94,900, and Decatur, Illinois, with a median price of $96,900.