These Housing Markets Are Most At Risk For A Coronavirus-Driven Downturn

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These housing markets are most at risk for a coronavirus-driven downturn:

Baltimore , Carroll, Cecil, Charles, Frederick and Prince George’s Counties. Nassau, Orange, Rockland, Suffolk and Westchester CountiesFlorida, which dominated the top 50 list in ATTOM’s first-quarter report, only had two counties represented in the latest list: Flagler County, on the northeast coast, about 25 miles north of Daytona Beach; and Hernando County, located on the west central coast, approximately 75 miles due west from Orlando.

Prior to surges of confirmed COVID-19 cases in some areas, such as recent spikes in Houston and Dallas, these four markets appeared to be best positioned, according to the April-June analysis:“For example, counties in the West, which commonly have the most expensive housing, remained more insulated from pandemic-related problems than those in other regions because of very high home equity and low foreclosure activity,” says Todd Teta, chief product officer at ATTOM Data Solutions.

Only Bergen County, New Jersey became slightly less expensive, by 1.5%, in the second quarter of 2020 compared to the fourth quarter of 2019. However, the unemployment rate there jumped 12.4 percentage points from May 2019 to May 2020.

 

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