Negative equity fell by $284 billion by the end of the first quarter of 2020. These results continue the improvement that was reported back in the 4th quarter of 2019 where negative equity fell by $286 billion. 
The year-over-year reduction in negative equity came to $22.6 billion or 7.4% from the $307 billion reported in the first quarter of 2019.
Rising home prices and a continued strong economy has resulted in the reduction of the nation’s negative equity.
Here are some fast stats from 2010:
25.9% of all homes were underwater
12.1 million homes reported negative equity
Fast Stats 2020
■ 3.4% of all homes reported negative equity
■ 1.8 million properties are still underwater
■ Total aggregate home equity increased $6.2 trillion since the first quarter of 2010
■ The average homeowner gained $106,100 in homeowner equity
■ In the first quarter of 2020, homeowners gained on average, $9,600 in equity, on a year-to-year basis
■ Idaho gained the most on average, posting a $24,000 improvement in homeowner equity
■ New Jersey reported an improvement of $13,000 in home equity.
■This was the highest amount for any of the states in the tri-state region.