Home >> Daily Dose >> Housing Markets Most Impacted by COVID-19
Print This Post Print This Post

Housing Markets Most Impacted by COVID-19

In a recent interview with CNBC, Jeff Ostrowski, analyst, Bankrate.com, detailed the housing markets most impacted by COVID-19.

Ostrowski said he created an index—the House Hardship Index—which combines mortgage delinquency rates and unemployment rates on a state-by-state basis.

He found Nevada and Hawaii were the two most impacted markets, with Nevada having a delinquency rate of 9.9% and an unemployment rate of 25%. Hawaii had a mortgage delinquency rate of 9.3% with 22.3% unemployment.

“That’s more about the structure of their economy. Those are both very tourism heavy states and there was really no tourism in April and May,” he said, adding both Michigan and New Jersey were hit hard by the virus.

Housing markets that fared the best were North and South Dakota, Montana, Idaho, and Nebraska, as each had delinquency rates below 5% and unemployment below 10%.

About Author: Mike Albanese

A graduate of the University of Alabama, Mike Albanese has worked for news publications since 2011 in Texas and Colorado. He has built a portfolio of more than 1,000 articles, covering city government, police and crime, business, sports, and is experienced in crafting engaging features and enterprise pieces. He spent time as the sports editor for the "Pilot Point Post-Signal," and has covered the DFW Metroplex for several years. He has also assisted with sports coverage and editing duties with the "Dallas Morning News" and "Denton Record-Chronicle" over the past several years.

Check Also

Historic Housing Shortage Leads to Price Surge

Economists say winter storms, the Easter holiday, and an ongoing pandemic influenced the last month’s housing-market metrics.

Subscribe to MDaily

MReport is here for you to stay on top of important developments in the mortgage marketplace. To begin receiving each day’s top news, market information, and breaking news updates, absolutely free of cost, simply enter your email address below.