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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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SOURCE ATTOM

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Mega Matrix Inc. Announced that FlexTV Formed a Strategic Partnership with TelkomMetra, the Subsidiary of Indonesia’s Telecom Giant

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PALO ALTO, Calif., Nov. 7, 2024 /PRNewswire/ — Mega Matrix Inc. (“MPU” or the “Company”) (NYSE American: MPU) today announced that its globally leading short drama streaming platform, FlexTV, recently signed a two-year cooperation agreement with PT Multimedia Nusantara (“TelkomMetra”). This agreement was brokered by AR Asia Productions, whose expertise was instrumental in bringing the two companies together.

This collaboration, commencing in early December this year, aims to leverage Telkom Metra and Telkomsel’s platforms to facilitate MPU’s steady establishment and long-term development in the Indonesian market through market expansion, brand exposure, financial support, revenue sharing, content distribution, and localization support.

TelkomMetra is a wholly-owned subsidiary of Telkom Indonesia, one of the largest telecommunications companies in Indonesia, with a robust network and resources in the local market. It focuses on digital entertainment and communication services in Indonesia and its surrounding regions. Telkomsel, another subsidiary of Telkom Indonesia is the largest mobile telecommunications operator in Indonesia, providing mobile communication services—including voice, data, and digital content—to over 170 million users.

Within six months of signing the agreement, FlexTV will become TelkomMetra’s sole micro-drama partner. In the first year after FlexTV is integrated into TelkomMetra’s Telkomsel platform, both parties will invest in the Indonesian market, with a focus on in-app promotion to ensure high exposure and user attraction for the platform’s content. TelkomMetra will also be responsible for distributing FlexTV’s content across multiple platforms in Indonesia and has expressed willingness to provide investment support for the localization of FlexTV’s content to enhance its impact. Notably, TelkomMetra plans to explore the possibility of establishing a joint venture with FlexTV one year into the partnership, viewing micro-dramas as a long-term strategic investment.

The establishment of this strategic partnership aims not only to introduce FlexTV’s high-quality micro-drama content to the Indonesian market and create a leading entertainment experience in overseas markets but also to promote MPU’s future collaboration and development globally.

About Mega Matrix: Mega Matrix Inc. (NYSEAMEX: MPU) is a holding company and operates FlexTV, a short-video streaming platform and producer of short dramas, through Yuder Pte, Ltd., an indirect majority-controlled subsidiary of Mega Matrix. Mega Matrix is a Cayman Island corporation headquartered in Palo Alto, CA. For more information, please contact info@megamatrix.io or visit: http://www.megamatrix.io.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements that are purely historical are forward looking statements. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees for future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate future acquisitions; ability to grow and expand our FlexTV business; ability to execute the strategic cooperation with TopReels, ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company’s profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment, competition, changes in regulation, or other economic and policy factors; and the possibility that the Company’s new lines of business may be adversely affected by other economic, business, and/or competitive factors. The forward-looking statements in this press release and the Company’s future results of operations are subject to additional risks and uncertainties set forth under the heading “Risk Factors” in documents filed by the Company with the Securities and Exchange Commission, including the Company’s latest annual report on Form 10-K, and are based on information available to the Company on the date hereof. In addition, such risks and uncertainties include the Company’s inability to predict or control bankruptcy proceedings and the uncertainties surrounding the ability to generate cash proceeds through the sale or other monetization of the Company’s assets. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Disclosure Channels

We announce material information about the Company and its services and for complying with our disclosure obligation under Regulation FD via the following social media channels:

The Company will also use its landing page on its corporate website (www.megamatrix.io) to host social media disclosures and/or links to/from such disclosures. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our website, press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our website.

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SOURCE Mega Matrix Inc.

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Mega Matrix Inc. Announced that It Was Awarded the 2024 “Outstanding Pan-Entertainment Product” at the 5th GICC

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PALO ALTO, Calif., Nov. 7, 2024 /PRNewswire/ — Mega Matrix Inc. (“MPU” or the “Company”) (NYSE American: MPU) today announced that on November 6, at the 5th Global Internet CEO Conference (GICC) hosted by Sailing Global, Mega Matrix (NYSE: MPU) and its streaming platform FlexTV were honored with the Gloden Sail Award for “Outstanding Pan-Entertainment Product” in 2024. MPU also presented its achievements and insights in the short drama market and product development, sharing its methodology for creating hit content.

The Golden Sail Award recognizes companies excelling in the global market, focusing on long-term development, and making significant contributions in product innovation and technological advancement. This award is not only a testament to FlexTV’s remarkable success in the pan-entertainment field but also highlights its expertise in short-form content production, distribution, and marketing, as well as MPU’s market influence.

During discussions at the GICC, Lancy Wu, Investment Director at MPU, provided valuable insights into “Global Reach of Short Dramas: The Rise of Vertical Screen Content.” Based on industry data, she forecasted that the global short-form drama market would expand to $36 billion within three years, with substantial growth potential in international markets. She noted that user numbers are tripling each quarter, signaling strong demand and an undersupplied market. As the first NYSE-listed “short drama stock,” MPU’s streaming platform FlexTV is dedicated to the content of short drama content, covering over 100 countries and offering content in all major languages. FlexTV aims to seize this trend, positioning itself as a global leader in the era of vertical screen entertainment.

Lancy Wu further analyzed the top three themes for popular content: love, identity, and wealth. She discussed the importance of emotional resonance, narrative shifts, a return to positive themes, and simple value aspirations from a psychological perspective. Wu emphasized that catering to current audience demands, strategically utilizing tried-and-true storytelling methods, precisely managing information density, and capturing the resonance of targeted demographics are crucial to creating hit content.

With the successful conclusion of this year’s GICC, the exchange and insights shared among participating companies have contributed valuable momentum to the globalization of the pan-entertainment industry. MPU and its platform FlexTV will continue to leverage their expertise and market influence to deliver high-quality content to a global audience, aiming for greater breakthroughs in the short drama and pan-entertainment sector. They are poised to drive innovation, industry growth, and lead the sector towards a brighter future.

About Mega Matrix: Mega Matrix Inc. (NYSEAMEX: MPU) is a holding company and operates FlexTV, a short-video streaming platform and producer of short dramas, through Yuder Pte, Ltd., an indirect majority-controlled subsidiary of Mega Matrix. Mega Matrix is a Cayman Island corporation headquartered in Palo Alto, CA. For more information, please contact info@megamatrix.io or visit: http://www.megamatrix.io.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements that are purely historical are forward looking statements. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees for future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate future acquisitions; ability to grow and expand our FlexTV business; ability to execute the strategic cooperation with TopReels, ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company’s profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment, competition, changes in regulation, or other economic and policy factors; and the possibility that the Company’s new lines of business may be adversely affected by other economic, business, and/or competitive factors. The forward-looking statements in this press release and the Company’s future results of operations are subject to additional risks and uncertainties set forth under the heading “Risk Factors” in documents filed by the Company with the Securities and Exchange Commission, including the Company’s latest annual report on Form 10-K, and are based on information available to the Company on the date hereof. In addition, such risks and uncertainties include the Company’s inability to predict or control bankruptcy proceedings and the uncertainties surrounding the ability to generate cash proceeds through the sale or other monetization of the Company’s assets. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Disclosure Channels

We announce material information about the Company and its services and for complying with our disclosure obligation under Regulation FD via the following social media channels:

The Company will also use its landing page on its corporate website (www.megamatrix.io) to host social media disclosures and/or links to/from such disclosures. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our website, press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our website.

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SOURCE Mega Matrix Inc.

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DELTA ELECTRONICS EXPANDS IN INDONESIA, OFFERING MARKET LEADING SOLUTIONS, SMART TECHNOLOGIES, AND SUSTAINABLE INITIATIVES

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JAKARTA, Indonesia, Nov. 7, 2024 /PRNewswire/ — Delta Electronics, a global leader in power management and IoT-based smart green solutions, announced today its business expansion in Indonesia. Building on its strong partnerships with local distributors and system integrators, PT Delta Electronics Indonesia will continue collaboration with these partners while extending its engagement with government agencies and key customers. Delta aims to provide tailored solutions that address the unique needs of key Indonesian industries, including Data Centers, Manufacturing and Renewable Energy, with a focus on driving sustainable innovation.

“At PT Delta Electronics Indonesia, we are committed to being at the forefront of innovative power electronics technologies and solutions. Our ongoing investment in research and development has enabled us to consistently introduce advanced products that enhance energy efficiency and minimize our customers’ carbon footprints. This evolution reflects our dedication to not only providing solutions but also being a reliable partner to foster sustainability in Indonesia.” remarked Mr. Johnny Tam, Country Manager, PT Delta Electronics Indonesia.

“Delta Electronics has transformed significantly in Indonesia since its first entry into the market over twenty years ago as a Telecom supplier into a significant player in Data Center, Automation and Energy Infrastructure spaces. This transition reflects our vision of innovation and commitment to local markets, all while maintaining a strong emphasis on energy efficiency and sustainable technologies.” said Mr. David Leal, Vice-President, SEA Business, Delta Electronics.

Focusing on Innovative Solutions in Power Electronics, Automation, and Energy Infrastructure to Support Sustainable Development

By establishing PT Delta Electronics Indonesia, the company strengthens its local presence and engagement with Indonesian industries, delivering faster, tailored solutions to meet the unique challenges of industrialization and urbanization.   

Delta is advancing Indonesia’s EV ecosystem through strategic partnerships with local players. Notably, PT Delta Electronics implemented EV chargers for the 2022 G20 Bali Summit, supporting e-mobility for world leaders at the event. At the 43rd ASEAN Summit in Jakarta, the company also deployed chargers to facilitate transportation for regional leaders. Furthermore, PT Delta Indonesia signed an MOU with an Indonesian consumer electronics factory to increase accessibility of Delta’s reliable, energy-efficient solutions to Indonesian customers.

PT Delta Electronics Indonesia will drive sustainability in smart cities, data centers, automation, and energy infrastructure by collaborating closely with private and government sectors. Beyond technology solutions, the company remains committed to community engagement, environmental awareness, and Indonesia’s long-term sustainable development goals, underscoring its dedication to a smarter, more sustainable future.

ABOUT DELTA

Delta, established in 1971, is a global leader in switching power supplies and thermal management products. The company offers a diverse portfolio of energy-efficient solutions in industrial automation, building automation, telecom power, data center infrastructure, EV charging, renewable energy, energy storage, and display technologies, all aimed at fostering smart manufacturing and sustainable urban development.

Since 2011, Delta has been listed on the DJSI World Index of Dow Jones Sustainability™ Indices for 13 consecutive years. It has also received the CDP double A List three times for its significant contributions to climate change and water security, and has been named a Supplier Engagement Leader for seven years running. Guided by its mission “To provide innovative, clean, and energy-efficient solutions for a better tomorrow,” Delta uses its expertise in high-efficiency power electronics and an ESG-focused approach to tackle key environmental challenges. The company serves its customers through a network of sales offices, R&D centres, and manufacturing facilities in nearly 200 locations across five continents.

For more information on Delta, please visit: www.deltaww.com.

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SOURCE Delta Electronics

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