Some areas of the United States have showed increased vulnerability amid the coronavirus pandemic compared to others. A new ATTOM Data Solutions report found that pockets of the Northeast and some parts along the East Coast remained most at risk in the fourth quarter of 2021. Meanwhile, the West continued to show less vulnerability.
The following areas had 40 of the 50 counties most vulnerable to the economic impact of the pandemic in Q4 2020: New Jersey, Illinois, California, Louisiana, New York, Florida and Maryland.
Of the western counties, five of the seven in the top 50 were in Northern California, with Illinois making up eight of the nine midwestern counties among those most vulnerable. The only southern state outside of Florida and Maryland with more than two counties in the top 50 was Louisiana.
Why are some of these areas considered more vulnerable? ATTOM Data Solutions looked at risk based on the percentage of homes facing possible foreclosure and portions of mortgage balances that exceed the estimated property value, among other criteria.
“Areas of the U.S. most at risk from damage connected to the coronavirus pandemic spread out somewhat in the fourth quarter of 2020. But they still fell mainly along the East Coast, with significant pockets in certain areas, while other parts of the country seem to be less vulnerable,” said Todd Teta, chief product officer with ATTOM Data Solutions. “This report is not a sign that any area actually took a fall in the fourth quarter. It’s more a gauge of areas that may be more vulnerable if the market falters. In the coming months, much will depend on whether the country can halt the pandemic. We will continue to keep a close watch on home sales and prices to see how everything shakes out in 2021 and if changes hit different regions in different ways.”
