The percentage of residential properties with negative equity fell to the single digits in the second quarter, according to CoreLogic.
About 4.4 million, or 8.7% of all mortgaged properties, had negative equity, as of June 30, CoreLogic said in a Tuesday
Negative equity refers to homeowners who are "underwater" on their mortgages, meaning they owe more on the mortgages than their home is worth.
The total national aggregate value of negative-equity properties in the second quarter was $309.5 billion, down from $338 billion on a quarterly basis and down from $350 billion on a yearly basis.
"For much of the country, the negative equity epidemic is lifting," Anand Nallathambi, CoreLogic's chief executive, said in the release.
Nevada had the highest proportion of homes in negative equity in the second quarter, with 20.6% of mortgaged properties. Florida was second at 18.5%, followed by Arizona at 15.4%, Rhode Island at 13.8% and Illinois at 13.1%.
Texas had the highest number of homes in positive equity at 97.9%, followed by Alaska at 97.6%, Hawaii at 97.5%, Montana at 97.2% and Colorado at 96.7%.
