Housing market Risk runs steepest in the southern, Western areas

Of the 50 risky provinces, 14 were in California and seven were in Florida. New Jersey had five and Louisiana had four.

The five provinces as the most risk were Charlotte County, FLA.; Humboldt County, Calif.; Shasta County, Calif/; Butte County, Calif.; and Cumberland County, New Jersey.

Each had shielding ratios of at least one in 766 houses and the unemployment percentages above the national average of 4.36%of June.

“This summer’s house prices were certainly striking, but there are many factors that contribute to the health of a local housing market,” said Rob Barber, CEO of Attom. “Our index takes into account important indicators that go further than just selling price to create a barometer that helps people to better understand where their market is going.

“There is uncertainty about how long prices can continue to rise, and what will happen to the wider economy. That can be scary for owners and potential buyers who do not always get a complete picture of their market.”

Affordable pressure

National costs of homeowners – including mortgage payments and real estate costs – consumed an average of 33.7% of the annual wages during the second quarter.

But in some provinces, the costs exceeded what a typical employee could cover in a year.

In Marin County, California, the property costs were almost 120% of the annual wages. Santa Cruz County, Calif, and Maui County, Hawaii, also required more than 110%.

Kings County, New York and San Luis Obispo County, California, have completed the top five at least affordable markets.

In 111 provinces, or about 19% of the studied, at least half of the local wages would have been needed for home costs. In almost two -thirds of the provinces, ownership costs used at least one third of the income.

Underwater mortgages, preventments

Nationally, 2.7% of the houses were ‘seriously under water’, which means that the loan of the loan exceeded the property values ​​by at least 25%.

In 223 provinces, the rate was higher than the national average.

Seven of the 10 provinces with the highest mortgage interest rate were in Louisiana. With 17.3% of the houses, Rapides Parish seriously under water – followed by Calcasieu -parish at 16.9%.

Entries also weighed heavily in different markets.

One in 1,413 houses throughout the country was confronted with shielding during the quarter. The highest rates were in Dorchester County, SC (one in 355 houses), Charlotte County, FLA. (One on 372) and Oswego County, New York (one in 427).

About 35% of the analyzed provinces had unemployment rates above the national average in June.

Imperial County, California, had the highest rate at 19%, followed by Yuma County, Ariz., At 15.2%.

Regional dividing lines

Southern provinces often appeared on both ends of the index.

Of the least risky provinces, 18 were in the south and 18 in the northeast. New York had eight provinces on the list of low risk, while Wisconsin had seven.

One of the most stable markets were Chautauqua County, New York, where house costs were good for only 17.8% of wages, and Potter County, Texas, with 19.6%.

None of the 50 provinces with lowest risks had unemployment percentages above the national average. Different – including Cumberland County, Maine and Chontenden County, VT. – reported rates in the vicinity of or less than 2.5%.