Key Highlights
- Nearly half of 50 most vulnerable US counties to coronavirus impacts are in Northeast and Florida
- Midwest and West regions of country less at risk of coronavirus impact on housing market challenges
Certainly every housing market in every county in the country already has or will soon have its own respective challenges. ATTOM Data Solutions just released a report focusing on county-level housing markets that are more or less susceptible to the market impact of the COVID-19 pandemic.
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ATTOM found that the Northeast region of the country has the highest concentration of at-risk counties with bunches of tightly knit counties in New Jersey and Florida. Counties in the West and Midwest are much less at risk.
- 14 of New Jersey’s 21 counties are considered to be among the most at-risk counties, according to
- Also in the top 50 most at-risk counties due to COVID-19 housing market impacts are four counties in New York, three in Connecticut and 10 counties in Florida.
- Counties in the Midwest, all within Illinois, including the Chicago counties of McHenry, Kane, Will, Lake, and Tazewell in the Peoria metro area.
- Just one county in California, one county in the Southwest and no other counties in other West Coast state are considered at-risk to COVID-19 market impacts by ATTOM.
ATTOM ranked each county’s vulnerability to coronavirus impacts based upon three data points including:
- Percentage of housing units that received foreclosure notice in Q4 2019
- Percentage of homes underwater in Q4 2019
- Percentage of local wages needed to pay for major homeownership expenses.
Todd Teta, Attom’s chief product officer, said, “It’s too early to tell how much effect the coronavirus fallout will have on different housing markets…but the impact is likely to be significant from region to region and county to county.”
Least at-risk counties include:
- 10 of the 50 least at-risk counties are in Texas, 7 counties in Wisconsin and 5 counties in Colorado
- 18 of the 50 least at-risk counties have populations of at least 500,000 include Harris County (Houston), Dallas County, King County (Seattle) Tarrant County (Fort Worth) and Santa Clara County in the San Jose metro area.
Thank you to ATTOM Data Solutions.
Also read: China’s Economy in Lockdown due to Coronavirus Outbreak, Real Estate Stocks Slammed by Coronavirus Fears & Realities, Podcast: THE Scariest Questions You Need Answered Now | Real Estate Crash Coming?
