Colorado boasts strong mortgage market
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Most Colorado homeowners are in pretty good financial shape.
Zoom in: Only 2% of homeowners are "underwater" on their loans — meaning they owe more on the mortgage than their home is worth — slightly lower than the national average (2.7%), per Attom, a real estate data company.
The intrigue: Wyoming has the second-highest underwater rate in the country (8.8%), with home values there dropping about 12% since June 2023.
- Louisiana's rate of 11.3% leads the nation.
Reality check: These shares are still relatively small, nothing like the 2008 housing crisis that left 1 in 4 homes with underwater mortgages.
The big picture: The South and Midwest have the highest share of underwater mortgages because home values in those areas fell from their peak during the pandemic housing boom.
- And people who bought at the top are seeing their home values dip below what they paid or borrowed for the house.
Go deeper: "Seriously underwater" mortgages live in the South and Midwest