Checking The Pulse Of The Kansas City Real Estate Market

If someone had asked me to guess what percent of homeowners have their home paid off, I’d probably have tossed out somewhere in the 15% range. So I was surprised to see a Zillow report that indicates 29% of homeowners in the U.S. have their home completely paid off. It really does surprise me in today’s indebted society that such a large portion of homeowners have positioned themselves so strongly with their real estate investments. 

Pai

At a time when an estimated 20% of U.S homeowners are either upside down on their home, selling their home in a Short Sale or currently behind on their mortgage payments, it’s good to know that 29% of homeowners are free of any mortgage debt. The stability of these homeowners is helping counteract the distressed sales in the market-place and is a big reason why areas like Johnson County Kansas have been out of a buyer’s market and in a balanced real estate market for more than a year now. 


Posted by Jason Brown

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  1. Mike Brown says:

    Do you know how the 29% paid off number compares to past decades? Just wondered if it was up, down or steady in this economy. The trend is very important!

  2. Jason Brown says:

    @ Mike Brown: I don’t recall the study mentioning that but there were two distinct attributes that were common to those with no mortgage… the older generation and those with high credit scores. On the latter, 44% of all mortgage free owners had a credit score of 800+.