Opportunity Zones Paying Dividends for Home Investors

first_img Servicers Navigate the Post-Pandemic World 2 days ago November 21, 2019 1,556 Views Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Investors are seeing home prices rise in Opportunity Zones, according to the new Q3 2019 Opportunity Zones Report from ATTOM Data Solutions. The report found that about half the zones saw median home prices rise more than the national increase of 8.3% from the third Q3 2018 to the Q3 2019.The report also shows that 79% of the zones had median home prices in the third quarter of 2019 that were less than the national median of $270,000—almost the same percentage as in the second quarter of 2019. Some 46% of the zones had median prices of less than $150,000, also roughly the same as in the prior quarter.“The nationwide home-price surge in the third quarter spread through so-called Opportunity Zones, much as it did the rest of the country,” said Todd Teta, chief product officer with ATTOM Data Solutions. “Despite sitting in some of the nation’s poorest areas, Opportunity Zones were hardly immune from a housing boom heading into its ninth year. That’s encouraging news for people living in those communities as well as investors looking to take advantage of the Opportunity Zones program.”Among the 3,658 Opportunity Zones with sufficient data to analyze, median prices rose in 48% of the zoned areas by more than the national rate of gain from Q3 2018 to Q3 2019. The national year-over-year increase was 8.3%.Among the 3,658 Opportunity Zones with sufficient data to analyze, California had the most Opportunity Zones, with 477, followed by Florida (332), Texas (293), Pennsylvania (176) and North Carolina (170). Of the tracts analyzed, 46% had a median price in the third quarter of 2019 of less than $150,000 and 17% ranged from $150,000 to $199,999. Another 16% ranged from $200,000 up to the national median of $270,000, 21% were more than $270,000. All percentages were similar to those in the second quarter of 2019.The Midwest continued to have the highest rate of Opportunity Zone tracts with a median home price of less than $150,000 (71%), followed by the South (56%), the Northeast (47%) and the West (12%). in Daily Dose, Featured, News Opportunity Zones 2019-11-21 Seth Welborn  Print This Post The Best Markets For Residential Property Investors 2 days ago Previous: Strengthening RMBS Servicing Next: First-Time Mortgage Default Rates Going Against Trends Share Save The Best Markets For Residential Property Investors 2 days ago Related Articles Home / Daily Dose / Opportunity Zones Paying Dividends for Home Investorscenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Opportunity Zones About Author: Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Opportunity Zones Paying Dividends for Home Investors Subscribe Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Sign up for DS News Daily last_img

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