Top 10 US Housing Markets Least At-Risk of Declines in Q2 2023
September 15, 2023
According to ATTOM’s newly released Q2 2023 Special Housing Risk Report, New Jersey and Illinois have the highest concentrations of the most-at-risk markets in the country, with the biggest clusters in the New York City, Chicago and Philadelphia areas. The report noted that the South, along with other parts of the Northeast, are generally less exposed to market woes.
The report also noted that the second-quarter patterns – derived from gaps in home affordability, underwater mortgages, foreclosures and unemployment – revealed that New Jersey and Illinois had 23 of the 50 counties most vulnerable to potential drop-offs. According to the report, those concentrations dwarfed other parts of the country amid a time of significant uncertainty when the U.S. housing market was rebounding from a period of flat or falling values.
ATTOM’s Q2 2023 housing impact report mentioned that the 50 counties at the top of the most vulnerable list included eight in and around New York City, six in the Chicago metropolitan area and three in or near Philadelphia. The report also mentioned that another six were scattered through northern, central and southern California, while a majority of the rest were in Indiana and along the East Coast.
Also, according to the report, at the other end of the risk spectrum, the South and two New England states had the highest concentration of markets considered least likely to decline.
For full report, please click the source link above.