Home Prices in Opportunity Zones on Par with US Market, but Values Aren’t: ATTOM
Originally published on November 18, 2021, by Christine Stricker for ATTOM.
ATTOM, curator of the nation’s premier property database, today released its third-quarter 2021 special report analyzing qualified low-income Opportunity Zones established by Congress in the Tax Cuts and Jobs Act of 2017 (see full methodology below). In this report, ATTOM looked at 5,402 zones around the United States with sufficient sales data to analyze, meaning they had at least five home sales in the third quarter of 2021.
The report found that median single-family home and condo prices increased from the second quarter of 2021 to the third quarter of 2021 in 62 percent of Opportunity Zones around the country and rose by at least 20 percent annually in 47 percent of them. Those patterns continued to closely parallel the broader U.S. housing market as it powered through a 10th straight year of gains. By some measures, values in Opportunity Zones did even better, extending patterns from over the past year.