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OPPORTUNITY ZONE HOUSING MARKETS STILL KEEPING UP WITH BROADER NATIONWIDE PRICE GAINS DURING THIRD QUARTER

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Median Home Values Increase During Third Quarter of 2024 in Majority of Opportunity Zones Targeted for Economic Redevelopment Around U.S.;
Prices Trends Inside Zones Once Again Reflect National Patterns

IRVINE, Calif., Nov. 7, 2024 /PRNewswire/ — ATTOM, a leading curator of land, property data, and real estate analytics, today released its third-quarter 2024 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 3,857 zones around the United States with sufficient data to analyze, meaning they had at least five home sales in the third quarter of 2024.

The report found that median single-family home and condo prices increased from the second quarter of 2024 to the third quarter of 2024 in 53 percent of Opportunity Zones around the country with enough data to measure. They were up annually in 61 percent of those zones.

As the nation’s long housing market boom continued, median prices increased more than 10 percent annually in almost half the Opportunity Zones analyzed.

Those trends, in and around low-income neighborhoods where the federal government offers tax breaks to spur economic revival, extended a long-term pattern of home values inside Opportunity Zones moving parallel to broader nationwide price shifts for at least the last three years. That pattern has remained in place regardless of whether the housing market has surged, improved modestly or ticked downward.

Despite overall gains inside Opportunity Zone markets, the third-quarter trends again were mixed, with typical values rising more in higher-priced zones while benefitting fewer of the very lowest-priced neighborhoods. That continued to reveal how the very bottom of the U.S. housing market is benefitting less from the national run of price gains now in its 13th year and could be more vulnerable if that pattern levels off or reverses.

Nevertheless, the latest patterns yet again showed how some of the most distressed communities in the nation are enjoying strong signs of ongoing economic strength, or limited weakness, compared to other markets around the country.

By several important measures, Opportunity Zones again did even better than the nation as a whole during the third quarter of 2024. For example, median prices inside the zones grew by at least 10 percent annually more often than elsewhere.

“Another quarter, another sign of rising fortunes. That again is the takeaway from home-price data inside neighborhoods with some of the most pressing needs around the country, marking just the latest indication of their economic potential,” said Rob Barber, CEO for ATTOM. “We keep seeing this over and over as soaring values push house hunters without a ton of resources out of pricier locations to more-affordable markets.”

He added that “the situation inside Opportunity Zones still is far from rosy. Significant numbers still face depressed prices. But the latest big picture provides more evidence of home buyers interested in these communities, which can only be a positive lure for the investments that Opportunity Zone incentives are designed to attract.”

Opportunity Zones are defined in the Tax Act legislation as census tracts in or alongside low-income neighborhoods that meet various criteria for redevelopment in all 50 states, the District of Columbia and U.S. territories. Census tracts, as defined by the U.S. Census Bureau, cover areas that have 1,200 to 8,000 residents, with an average of about 4,000 people.

Amid economic limitations, most Opportunity Zones still had typical home values that fell well below those around most of the nation in the third quarter of 2024. Median third-quarter prices inside about 80 percent of the zones were less the U.S. median of $360,500. That was about the same portion as in earlier periods over the past three years. In addition, median prices remained under $200,000 in almost half the zones.

Considerable price volatility also continued inside Opportunity Zones, with median values either dropping or increasing by at least 5 percent in nearly three-quarters of those locations from the second quarter of 2024 to the third quarter of this year. That again likely reflected small numbers of sales in many zones.

High-level findings from the report:

Median prices of single-family homes and condos increased from the second quarter of 2024 to the third quarter of 2024 in 1,803 (53 percent) of the Opportunity Zones around the U.S. with sufficient data to analyze, while staying the same or decreasing in 47 percent. Measured annually, medians remained up from the third quarter of 2023 to same period this year in 2,091 (61 percent) of those zones. (Among the 3,857 Opportunity Zones included in the report, 3,426 had enough data to generate usable median-price comparisons from the second to the third quarter of 2024; 3,420 had enough data to make comparisons between the third quarter of 2023 and the third quarter of 2024).In another indication of strength, typical values rose by more than 10 percent annually in 43 percent of Opportunity Zones versus 37 percent of census tracts elsewhere.Measured quarterly, typical values were up more than 5 percent in 42 percent of Opportunity Zones and in 39 percent of neighborhoods outside the zones.However, in a potential sign of trouble, median prices were up annually in only 48 percent of Opportunity Zones where homes commonly sold for less than $125,000 during the third quarter of 2024.Among states that had at least 25 Opportunity Zones with enough data to analyze during the third quarter of 2024, the largest portions of zones where median prices increased annually were in Nevada (medians up from the third quarter of 2023 to the third quarter of 2024 in 81 percent of zones), Wisconsin (75 percent), Indiana (72 percent), Ohio (69 percent) and Utah (69 percent). States where prices were up annually in the smallest portion of zones included Kentucky (median prices up in 46 percent of zones), Louisiana (47 percent), Colorado (47 percent), Arizona (48 percent of zones) and Oklahoma (52 percent).Of the 3,857 zones in the report, 1,081 (28 percent) had median prices below $150,000 in the third quarter of 2024. That was down from 33 percent of zones with sufficient data a year earlier and almost 60 percent five years ago. Another 636 zones (16 percent) had medians in the third quarter of this year ranging from $150,000 to $199,999.Median values in the third quarter of 2024 ranged from $200,000 to $299,999 in 25 percent of Opportunity Zones while they topped the nationwide third-quarter median of $360,500 in just 21 percent.The Midwest continued in the third quarter of 2024 to have larger portions of the lowest-priced Opportunity Zone tracts. Median home prices were less than $175,000 in 58 percent of zones in the Midwest, followed by the Northeast (40 percent), the South (39 percent) and the West (5 percent).Median household incomes in 87 percent of the Opportunity Zones analyzed were less than the medians in the counties where they were located. Median incomes were less than three-quarters of county-level figures in 54 percent of those zones and less than half in 14 percent.

Report methodology
The ATTOM Opportunity Zones analysis is based on home sales price data derived from recorded sales deeds. Statistics for previous quarters are revised when each new report is issued as more deed data becomes available. ATTOM’s analysis compared median home prices in census tracts designated as Opportunity Zones by the Internal Revenue Service. Except where noted, tracts were used for the analysis if they had at least five sales in the third quarter of 2024. Median household income data for tracts and counties comes from surveys taken the U.S. Census Bureau (www.census.gov) from 2018 through 2022. The list of designated Qualified Opportunity Zones is located at U.S. Department of the Treasury. Regions are based on designations by the Census Bureau. Hawaii and Alaska, which the bureau designates as part of the Pacific region, were included in the West region for this report.

About ATTOM
ATTOM provides premium property data and analytics that power a myriad of solutions that improve transparency, innovation, digitization and efficiency in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include ATTOM Cloudbulk file licensesproperty data APIsreal estate market trendsproperty navigator and more. Also, introducing our newest innovative solution, making property data more readily accessible and optimized for AI applications – AI-Ready Solutions.

Media Contact:
Megan Hunt
megan.hunt@attomdata.com 

Data and Report Licensing:
datareports@attomdata.com

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Storage Empowers an Intelligent World: Longsys to Debut Dual-Brand Innovations and PTM Business Model at Electronica 2024 in Munich

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SHENZHEN, China, Nov. 7, 2024 /PRNewswire/ — From November 12-15, 2024, Longsys(301308.SZ), a branded semiconductor memory enterprise, will be unveiling its latest innovations in memory technology at Electronica in Munich. As an innovative memory solution manufacturer that integrates R&D, design, packaging and testing, manufacturing, and sales services, Longsys has been recognized for its exceptional product performance and market leadership, selected for the 2024 Fortune China’s Top 50 Tech Companies as the only storage enterprise on the list.

PTM Business Model Makes Overseas Debut

At Electronica, Longsys will introduce its groundbreaking PTM (Product Technology Manufacturing) business model to global customers. PTM is designed to provide high-end, flexible, and efficient full-stack customization services, empowering industries like automotive and industrial to embrace smart transformation and supporting global trends in intelligent development.

FORESEE and Lexar Brands Introduce New Products

Longsys, together with its dual brands—the industrial storage brand FORESEE and the high-end consumer storage brand Lexar—will introduce a range of innovative products at the exhibition, featuring solutions for industrial-grade, automotive-grade, and consumer-grade smart applications. These products are designed to meet the storage needs of diverse global industries advancing in digital transformation.

Germany, as a hub for automotive and industrial sectors, will see specific high-reliability products from FORESEE, including SPI NOR Flash and Grade 2 LPDDR4x for industrial and automotive applications. The FORESEE SPI NOR Flash offers versatile packaging options—WSON8, BGA24, and SO16—to suit varied applications, supporting data widths from x1 to x8 with storage capacities up to 256Mb. Additionally, the Grade 2 LPDDR4x, manufactured with a 1y nm process, offers capacities from 2GB to 8GB and data transfer speeds up to 4266Mbps, ensuring reliable performance across a wide automotive temperature range of -40°C to 105°C. Compared to the previous-generation LPDDR3, this new LPDDR4x improves performance by 128% and reduces power consumption by more than 50%, making it ideal for intelligent automotive systems.

Lexar will also present products like the Lexar® JumpDrive® USB 3.2 Flash Drive and PCIe Gen5 SSD, targeting a broad consumer market in automotive applications. The Lexar® JumpDrive® USB 3.2 Flash Drive, with its compact design and powerful USB 3.2 Gen 1 performance, offers a durable and convenient storage solution for in-car monitoring systems. Available in capacities from 64GB to 256GB, it supports read speeds up to 200MB/s, ensuring smooth video recording. With years of market experience, Lexar’s automotive-grade storage solutions, including car USB drives and Micro SD cards, have gained recognition from many leading global new energy vehicle manufacturers and have become standard equipment in some well-known car brands.

With subsidiaries and branches in Europe, the Americas, and Asia, Longsys’ global footprint provides efficient local support and services to customers worldwide. This expansive network also sets a strong foundation for implementing the PTM business model internationally.

At Electronica 2024, Longsys will showcase its extensive expertise and continuous innovation in storage technology. Through the PTM business model and a wide range of products from its two brands, Longsys looks forward to exploring new opportunities in industrial and automotive storage applications, contributing to the global transformation toward smarter industries. We warmly invite all attendees to visit our booth to experience the future of intelligent storage innovation firsthand.

About Longsys

Longsys is a globally leading branded semiconductor memory brand founded in 1999. As an innovative memory solution manufacturer that integrates R&D, design, packaging and testing, manufacturing, and sales services, Longsys upholds the corporate vision of “Everything for memory.” With memory technology innovation at its core, Longsys provides high-end, flexible, and efficient full-stack customized services to global customers. For more information please visit https://www.longsys.com/, and follow Longsys on LinkedIn, Facebook and Twitter.

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HashKey Global to Initially List HSK, the HashKey Platform Token

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HAMILTON, Bermuda, Nov. 7, 2024 /PRNewswire/ — HashKey Global, the licensed digital asset exchange, is proud to announce the initial listing of the HashKey Platform Token (HSK). As the platform token of HashKey Group, HSK will be integral to the entire HashKey ecosystem, and enhance mass adoption from the global Web3 community. HashKey Global will open deposits on November 7, with HSK/USDT spot trading opening on November 26.

HSK is the platform token of HashKey Group, and will be used across all HashKey businesses, covering global licensed exchanges, investment and asset management, tokenization, infrastructure services, and more. Additionally, HSK is the native token and gas token of HashKey Chain, an L2 public chain, empowering long-term growth of the ecosystem.

As a fully compliant Web3 infrastructure provider across Asia, HashKey Group is dedicated to the connection of traditional finance and crypto space. Founded in 2018, HashKey Group has built an established one-stop digital asset platform involving millions of users worldwide. As the sole core asset of HashKey Group, HSK will integrate and drive the entire ecosystem, fostering synergies and community engagement while creating value for users globally.

Ben El-Baz, Managing Director of HashKey Global, comments: “HSK is not just a token but a bridge between Asia and the global financial infrastructure. HashKey Global, as an important business of HashKey Group, will not only provide robust liquidity support and a stable trading environment for HSK, but will also continue to support the global expansion of the HSK ecosystem, safeguarding the development of a premier compliant Web3 ecosystem.”

HSK deposits will open on November 7 at 07:00 (UTC). HSK/USDT spot trading will start on November 26 at 10:00 (UTC), followed by the opening of HSK withdrawals on November 27 at 10:00 (UTC).

About HashKey Global

HashKey Global is the flagship digital asset exchange under HashKey Group, offering licensed digital asset trading services to users worldwide, and becomes one of the fastest-growing crypto exchanges in 2024. HashKey Global has obtained a license from the Bermuda Monetary Authority providing mainstream trading and service products such as LaunchPad, contracts, leverage, etc. HashKey Global does not service users from Hong Kong, United States, Mainland China and certain other jurisdictions in compliance with laws and regulations. Certain services, features, and campaigns may not be available in your jurisdiction.

Please read our latest Disclaimer.

For more details, please visit global.hashkey.com. Follow us on X, Telegram, and Discord.

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SOURCE HashKey Global

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Marosa secures investment from Aquiline to accelerate growth and expand VAT compliance solutions

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VIGO, Spain and LONDON, Nov. 7, 2024 /PRNewswire/ — Marosa 2024 S.L. (“Marosa”), a leading provider of VAT compliance and e-invoicing technology solutions, today announced it has secured a €12 million investment from Aquiline, a private investment firm specializing in financial services and technology. This funding represents Marosa’s first external capital raise and will help accelerate its growth strategy, expand compliance software and e-invoicing offerings, and support its global expansion.

Founded in 2016 by Pedro Pestana da Silva, Marosa is a tech-enabled provider of mission-critical VAT compliance technology and services, catering to large multinational business customers with VAT filing obligations across Europe. With over 1,200 enterprise and eCommerce customers, Marosa’s flagship software, VATify, offers a cloud-based, end-to-end solution that centralizes e-invoicing, VAT registration, and reporting. The company also provides real-time reporting of e-invoices in response to regulatory requirements in various EU countries.

The investment from Aquiline will enable Marosa to further accelerate product development, go-to-market approach, and international expansion, while capitalizing on significant regulatory and market momentum across Europe. Recent regulatory shifts, such as the adoption of mandatory e-invoicing and real-time reporting across Europe, have underscored the importance of digital VAT compliance solutions. Marosa is at the heart of these requirements, as it helps large multinational enterprises seeking to get ahead of regulatory changes by digitizing e-invoicing and VAT processes.

Pedro Pestana da Silva, Founder and CEO of Marosa, commented:

“I am delighted to welcome Aquiline as our first external investor. Over time, we have built a trusted relationship with their team, and they truly understand our vision, technology, and the needs of our clients. With this investment, we are well prepared to accelerate our R&D, enhance our product offerings, and expand our reach in a complex and evolving market.”

Giovanni Nani, Principal at Aquiline, added:

“Since our first meeting in 2020 we have admired the software and services that Pedro and the Marosa team have been developing for their growing customer base in an increasingly complex regulatory environment. Aquiline has a strong track record of backing bootstrapped financial services and technology entrepreneurs. We are excited to partner with Marosa on its next phase of growth and support the team on its journey of becoming a pan-European VAT compliance and e-invoicing leader.”

Notes to Editors

About Marosa

Marosa is a leading provider of fully integrated VAT compliance and e-invoicing technology solutions, serving enterprise and eCommerce clients across Europe. Headquartered in Vigo, Spain, Marosa’s flagship software, VATify, centralizes e-invoicing, VAT registration, and reporting, and automates communication with tax authorities, helping businesses stay ahead of regulatory changes and streamline their VAT compliance processes.

For more information, visit www.marosavat.com.

About Aquiline

Aquiline Capital Partners LP (“Aquiline”) is a private investment firm based in New York, London, and Philadelphia, that is dedicated to financial services and technology. As of September 30, 2024, Aquiline has approximately $11.3 billion of assets under management and has deployed approximately $7.0 billion of capital across the firm’s three strategies in private equity, venture, and credit.

For more information about Aquiline, its investment professionals, and its portfolio companies, visit www.aquiline.com.

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