10 NJ Counties at Risk for U.S. Real Estate Crash — Is Yours One?

Are you a homeowner in New Jersey? If so, you may be at risk for a U.S. real estate crash. According to a recent report, 10 NJ counties are considered the most vulnerable in the country. Do you live in one of them? If not, is your home’s value still high enough that a market crash could cause problems for you? It’s important to be aware of these risks and take steps to protect yourself, whether or not your county is listed among those most at risk.

The frenzy to buy and sell homes in New Jersey seemed like it would never end. Depending on where you live in New Jersey you probably still feel that way.

Historically low home-mortgage rates and the pandemic push to get out of crowded areas and into more spacious homes and land made for an unprecedented seller’s market in the state, with inventory at an all time low and prices at an all-time high. But at some point, something’s gotta give.

ATTOM, a company that provides nationwide real estate and property data just released the latest numbers for the housing market and it doesn’t look great for New Jersey. In a news release, the company says 50 counties in the country are most at-risk for a housing downturn, and 10 of them are right here in New Jersey.

The study notes that the at-risk counties all suffer declining home affordability, declining investor profits and rising inflation. According to the study, there are three warning signs that are always present prior to a housing downturn. Those are: Housing that is unaffordable for average workers, higher levels of foreclosures, and larger portions of homeowners who are underwater on their mortgages. These counties have hit the trifecta.

Read More: 10 NJ counties at risk for U.S. real estate crash — Is yours one?