CALIFORNIA, NEW JERSEY AND ILLINOIS STILL FACING HIGHER RISK OF HOUSING MARKET DECLINE
IRVINE, Calif., March 7, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released a Special Housing Risk Report spotlighting county-level housing markets around the United States that are more or less vulnerable to declines, based on home affordability, underwater mortgages and other measures in the fourth quarter of 2023. The report shows that California, New Jersey and Illinois continue to have the highest concentrations of the most-at-risk markets in the country, with some of the biggest clusters in the New York City and Chicago areas, along with inland California. Less-vulnerable markets are spread mainly throughout the South and Midwest.
- "As always, this is not a warning sign for homeowners to run out and sell, or rush to buy, in any specific market.
- The housing market remains strong throughout most of the country despite some recent small downturns.
- Rather, this report again spotlights areas that appear more or less exposed to a market fall, should that start to happen, based on key measures."
- Counties with the lowest composite rank were considered most vulnerable to housing market problems.