Analysis: 7.8 percent of Arizona property owners' mortgages are 'underwater' by By Arizona Business Daily | Jun 1, 2018

In Arizona, owners of 116,314 properties with mortgages owe at least 25 percent more on their loans than their property is worth, according to an analysis by ATTOM Data Solutions looking at home equity at the end of the first quarter.

In Arizona, owners of 116,314 properties with mortgages owe at least 25 percent more on their loans than their property is worth, according to an analysis by ATTOM Data Solutions looking at home equity at the end of the first quarter.

The state ranks 37th in the U.S., with 7.8 percent of all properties with a mortgage considered “seriously underwater.” The analysis is based on a home’s estimated market value.

Altogether, U.S. states, including the District of Columbia, had 5.2 million properties considered seriously underwater at the end of March. That includes 9.5 percent of all properties with a mortgage, which is two-tenths of a percentage point lower than at the end of the first quarter last year.

South Dakota was excluded from the rankings because ATTOM Data Solutions lacks sufficient information on mortgage and estimated value data in that state