According to a recent article published by The New York Times, "the share of underwater mortgage holders - those who owe more than their homes are worth - has dropped by more than half since peaking in early 2012." What contributed to the decline? The article cites rising home values, though notes that condominiums have not seen the same form of appreciation.

Image Courtesy of The New York Times

The hardest hit areas for negative equity are Las Vegas (25%), Chicago (22%) and Atlanta (21%).