In Seattle, Zillow says more than 16% of homeowners still underwater on mortgage

Neighborhood

In the Seattle metro area, more than 16 percent of all homeowners — or 106,900 — remain underwater on their mortgages and owe more money than their house is worth.

That’s according to Seattle online real estate company Zillow Inc., which said that’s down from an underwater equity rate of 21.9 percent a year ago and down from the peak of 39.6 percent in the first quarter of 2012.

For 2015, Zillow estimates the negative equity rate in Seattle will drop to 13.3 percent, compared with the predicted national average next year of 15.2 percent.

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