The ATTOM analysis looked at housing characteristics, home values and price appreciation for 7.4 million residential properties and 259,000 home sales in more than 3,000 Opportunity Zones.
The new Opportunity Zones created by the tax reform legislation passed in December 2017 provide real estate investors with prime, tax-incented investing opportunities, particularly if they can find zones that are in the path of progress.
The newly announced Amazon HQ2 markets certainly qualify as being in the path of progress. An ATTOM Data Solutions analysis of Opportunity Zones in these markets – New York and Washington, D.C., along with Nashville – shows that home price appreciation in these zones is already outperforming the surrounding market, even while homes can still be purchased at significant discounts.
The ATTOM analysis looked at housing characteristics, home values and price appreciation for 7.4 million residential properties and 259,000 home sales in more than 3,000 Opportunity Zones. Specifically in the Amazon HQ2 headquarter markets, ATTOM analyzed 80 Opportunity Zones in the Washington, D.C. metro area with a total of 263,889 single-family homes and condos and a total of 3,031 home sales in 2018; 65 Opportunity Zones in the New York metro area with a total of 129,826 single-family homes and condos and a total of 1,442 home sales YTD in 2018; and 5 Opportunity Zones in the Nashville metro area with a total of 28,381 single family homes and condos and 367 home sales YTD in 2018.
Read more about Opportunity Zones and the tax incentives available to folks looking to invest in them here, or check out how the recent Government shut down is impacting investments in opportunity zones here.