Opportunity zone housing markets rebound in 2nd quarter
Real Estate - AUGUST 21, 2023

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

Opportunity zone housing markets rebound in 2nd quarter

by Released

The median single-family home and condo prices increased from the first quarter to the second quarter of 2023 in 61 percent of opportunity zones around the country, and rose at least 5 percent in about half, according to ATTOM.

The increases reversed a brief fallback in values during the prior two quarters in a majority of zones, which sit in and around low-income neighborhoods where the federal government offers tax breaks to spur economic revival.

The renewed price growth continued a long-term pattern of trends in opportunity zones largely matching those in other neighborhoods around the U.S. Values in those areas also dipped from late 2022 into early 2023 before recovering in the second quarter. Changes in home values inside opportunity zones have been tracking closely with national patterns for at least the past three years, and the rise is a sign of economic strength inside some of the country’s most distressed communities.

By two key measures, opportunit

Forgot your username or password?