A new study evaluates county-level foreclosure risk, underwater home values, and more real estate market data after two years of the Covid-19 pandemic in the United States.
New analysis by real estate data firm Attom Data Solutions ranks the most-at-risk real estate markets in the United States.
"New Jersey, Illinois and parts of California had the highest concentrations of the most at-risk markets in the fourth quarter – with the biggest clusters still in the New York City and Chicago areas," according to a press release announcing the fourth-quarter 2021 Special Coronavirus Report by Attom Data Solutions.
"New Jersey, Illinois and California had 31 of the 50 counties most vulnerable to the potential economic impact of the pandemic," adds the press release. "The 50 most at-risk included eight counties in the Chicago metropolitan area, eight near New York City and seven sprinkled through northern, central and southern California."
The report uses home affordability, equity and foreclosure reports data prepared by ATTOM, and calculates risk based on the percentage of homes facing possible foreclosure, the portion with mortgage balances that exceeded estimated property values and the percentage of average local wages required to pay for major home ownership expenses on median-priced single-family homes.
An article by Alexandre Tanzi for Bloomberg Wealth provides news coverage of the report.
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