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California and Florida top the list of housing markets most at risk of a downturn in home values—with multiple counties facing significant challenges, according to ATTOM, a real estate analytics firm. Factors contributing to risk include affordability, underwater mortgages, foreclosures, and unemployment rates.
The report highlights the unaffordability of housing in many counties, with residents needing to allocate a large portion of their income to home expenses.
FULL STORY: California and Florida Top New List of the Riskiest Housing Markets in the Nation
Key takeaways
- California and Florida have the highest concentration of high-risk housing markets, with multiple counties facing challenges.
- Affordability issues are prevalent, with a significant number of residents spending a large portion of their income on housing expenses.
- Nationally, home prices have reached record highs, leading to concerns about sustainability and affordability for buyers.
- Some counties have exceptionally high levels of seriously underwater properties, notably in Louisiana.
- Factors such as foreclosure rates, unemployment, and natural disasters contribute to the risk levels in various counties.
This summary has been generated with AI tools and edited by Realtor.com News & Insights editors. The full story, written and edited by Realtor.com News & Insights newsroom journalists, is linked at the top of the summary.