The number of homeowners in the Sacramento metropolitan area who are underwater in their mortgages continues to fall, according to a report released today by Seattle-based data company Zillow.
In the four-county Sacramento metro area, 41.7 percent of homeowners with mortgages owed more than their houses were worth in the last quarter of 2012. Zillow's Negative Equity Report said that was down from 44.7 percent in the third quarter of 2012.
Sacramento County had the highest percentage of negative equity in the region, with 46.4 percent of homeowners owing more than their houses were worth. That was followed by Yolo (39.1 percent), Placer (32.9 percent) and El Dorado (32.2 percent).
In the last quarter of 2012, Zillow said 156,840 homes in the metro area had negative equity, totaling $15.7 billion.
The latest 90-day delinquency rate for all mortgaged homes in the area was 7.4 percent, below the national rate of 8.9 percent.
Nationally, Zillow said about 13.8 million homeowners were underwater at close of 2012, representing 27.5 percent of those with a mortgage. That was down from 31.1 percent, or 15.7 million homes, in the year-ago period.