40 Markets With Most Risk

A new study of 40 U.S. metros ranks housing markets by risk, including mortgage payment delinquency rates, homeowner and rental vacancy rates, and foreclosure and negative equity rates.

Newark, N.J. was the top city in GOBankingRates' ranking with the highest homeowner vacancy and mortgage delinquency rates. Detroit was second in the ranking, followed by two cities in Connecticut--Bridgeport and Hartford, ranked third and fifth--and Baltimore, ranking fourth. Lawrence Yun, chief economist at the National Association of Realtors, tells CNBC that there are more buyers than for-sale homes in these markets, and believes prices will appreciate. "The only way it may reverse is if there's an economic recession with substantial job cuts. But at least through 2019, it looks like it's going to be a continuing job creating economy."

To be sure, many areas of the country are holding steady. Separate research from CoreLogic, a provider of property information, data and analytics, released in March found that delinquency and foreclosure rates overall were the lowest since 2000.

"You could see this as a list of bargains. But if things don't improve, you're just going to lose equity on your house," said Andrew DePietro, lead researcher and data analyst at GOBankingRates.

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