- Percentage of mortgages 90+ days delinquent: 0.82%
- Percentage of sales under list price: 55.39%
- Homeowner vacancy rate: 1.40%
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In order to find east coast metros that could be poised for a housing crisis, GOBankingRates looked at 158 of the largest metro statistical areas on the east coast (CT, DE, FL, GA, ME, MD, MA, NH, NY, NJ, NC, PA, RI, SC, VT, VA and DC) across the following factors: (1) percent of mortgages 30-89 days delinquent as sourced from the Consumer Financial Protection Bureau; (2) percent of mortgages 90-plus days delinquent as sourced from the Consumer Protection Bureau; (3) homeowner vacancy rate as sourced from the 2021 American Community Survey; (4) rental vacancy rate as sourced from the 2021 American Community Survey; (5) mean days from when a house hits market to pending sale as sourced from Zillow; (6) percent of homes sold below final list price as sourced from Zillow; (7) mean days from pending to closed sale as sourced from Zillow; and (8) the percent of listings with a price cut as sourced from Zillow. These eight factors were then scored and combined with the highest score indicating the California metro most likely to be poised for a housing crisis. Factors (1) and (2) were weighted 3x and factors (4) and (7) were weighted 0.5x. All data was collected on and up to date as of May 2, 2023.
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