Now that Amazon has revealed the three locations of their second headquarters (aka HQ2), the folks over at ATTOM Data zeroed-in on those locations (New York, Washington, D.C., and Nashville) to analyze their markets vis a vis the new Opportunity Zones created by Congress last year. Interestingly they found that homes located in Opportunity Zones nationwide and in each of these three markets consistently were sold at a discount but also have appreciated more quickly over the past five years compared to homes outside of the Opportunity Zones. Their analysis looked at housing characteristics, such as home values and price appreciation for 7.4 million residential properties and 259k home sales in over 3k Opportunity Zones.
“The new Opportunity Zones created by the tax reform legislation passed in December 2017 provide real estate investors with prime, tax-incentivized investing opportunities, particularly if they can find zones that are in the path of progress,” said Daren Blomquist, senior vice president with ATTOM Data Solutions. “The newly announced Amazon HQ2 markets certainly qualify as being in the path of progress.”