Like so many industries, COVID-19 has changed the landscape of housing in the past year. With the future unknown to so many and shifts in mindsets, areas that were once popular for housing are no longer the place to be. The need for more room at a more affordable price has shifted traditionally popular markets out of focus.
So which markets have become the most likely to be impacted by the pandemic? According to ATTOM Data Solutions, the East Coast, specifically New Jersey and Florida, will be the most impacted. Conversely, the West Coast and Midwest will be less impacted.
Out of the 483 counties that the AATOM data set analyzed, Winnebago County (Menasha, Oshkosh) is the second least likely county in the US to be negatively impacted. Outagamie County (Appleton) is the 26th least likely of 483 counties to be impacted. As we enter into a typically busier time for home buying, we will begin to see the true impacts of the pandemic on these markets.
While this prediction was based on many factors including foreclosures, “underwater” homes, and local wages, there are other variables that can impact a local market. Additionally, there is the unknown of federal policy that has continued to impact mortgage servicers who still have to make payments to the investors that the mortgages are tied to.
So Where Should I Invest?
If you’re still looking to invest in housing but want to avoid the current risk that the housing market is presenting, you should look to markets that are predicted to continue to be stable. Based on the information provided by AATOM, you can identify the markets that are the most likely to produce stable returns. Now is a great time to think about investing in Northeast Wisconsin.
As the aftermath of the pandemic continues to unfold, invest in something you can count on. Our team at WiscoTurnkey works with you to understand your financial goals and the best ways to achieve them. We handle everything from screening tenants to collecting rent so you don’t have to. Get in touch with our team today and learn about your options.
