Home Price Gains in Opportunity Zones Top Overall Market in Q3, ATTOM Report Reveals

Originally published on November 10, 2022, by ATTOM.

ATTOM, a leading curator of real estate data nationwide for land and property data, today released its third-quarter 2022 report analyzing qualified low-income Opportunity Zones targeted by Congress for economic redevelopment in the Tax Cuts and Jobs Act of 2017 (see full methodology below). In this report, ATTOM looked at 4,732 zones around the United States with sufficient data to analyze, meaning they had at least five home sales in the third quarter of 2022.

The report found that median single-family home and condo prices rose from the second quarter of 2022 to the third quarter of 2022 in 51 percent of Opportunity Zones around the country and went up at least 3 percent in almost half. Those gains fell below those recorded in earlier time periods over the past year, but they still stood out amid a broader national market that saw a 3 percent decrease in the median single-family home price in the third quarter, after a decade of almost uninterrupted gains.

The latest price improvements extended similar scenarios from the past year as home price changes in distressed neighborhoods around the nation continued to keep up with, or surpass, the performance of the nationwide housing market.

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