High unemployment and above-average foreclosure rates put homeowners in a handful of counties in California and Florida at risk of declines in their current home values, a report by housing analytics provider ATTOM stated.
The June 4 report examined foreclosure rates, affordability, and the number of homes where owners’ mortgages were underwater, or greater than the market value of their residences, in 580 counties. Florida led the nation in risk of falling property values, with 12 of its 67 counties vulnerable to declines. It was followed by California, with nine counties, and New Jersey and Illinois, with five each.
