Location Matters When Assessing Market Outlook

National housing market trends can give you an idea where things are heading generally but every local market has its own dynamic. That means, conditions will vary somewhat from one region to the next, between states, and even within metro areas. Proof of this can be found in ATTOM Data Solutions’ Special Housing Impact Report. The report looked at counties across the country to determine which were strongest and which were most vulnerable according to things like affordability, underwater mortgages, foreclosures, and unemployment. What it found was housing markets in the South were the most stable while areas in the Northeast and around Chicago had the most vulnerable markets. ATTOM’s CEO, Rob Barber, says despite vulnerabilities even at-risk markets aren’t in danger of an imminent crash. “As with earlier reports, it doesn’t mean any one area or cluster of areas is about to crash,” Barber said. “The overall market and the economy remain way too strong for imminent warnings to be sounded. But there are weak spots that are still popping up as areas to watch, especially if the market turns back downward.” (source)

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