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Special Report | COVID-19
THE MOST
AT-RISK
HOUSING
MARKETS
According to a new report from
ATTOM Data Solutions, several county-
level housing markets around the country
are more vulnerable to the economic impact
of the coronavirus. e report shows that
the Northeast has the largest concentration
of the most at-risk counties, with clusters in
New Jersey and Florida, while the West and
Midwest have the smallest.
e report reveals that housing markets
in 14 of New Jersey's 21 counties are among
the 50 most vulnerable in the country to the
economic impact of the coronavirus. e top
50 also includes four in New York, three in
Connecticut, and 10 from Florida, but only
one in California, none in other West Coast
states and only one in the Southwest.
Markets are considered more or less at
risk based on the percentage of housing units
receiving a foreclosure notice in Q4 2019,
the percent of homes underwater (LTV 100
or greater) in Q4 2019, and the percentage
of local wages required to pay for major
homeownership expenses. Rankings are based
on a combination of those three categories
in 483 counties around the United States
with sufficient data to analyze. Counties
were ranked in each category, from lowest to
highest, with the overall conclusions based on
a combination of the three rankings.
"It's too early to tell how much effect the
Coronavirus fallout will have on different
housing markets around the country. But
the impact is likely to be significant from
region to region and county to county,"
said Todd Teta, Chief Product Officer with
ATTOM Data Solutions. "What we've done
is spotlight areas that appear to be more
or less at risk based on several important
factors. From that analysis, it looks like the
Northeast is more at risk than other areas.
As we head into the Spring home-buying
season, the next few months will reveal how
severe the impact will be."
