Here’s a quick roundup of housing market stories this week:
Tag: Opportunity Zones
Home Values in ‘Opportunity Zones’ Keep Pace with National Gains
Home values in federal and state Opportunity Zone Redevelopment Areas—the controversial zones created in 2017 to spur economic development—are keeping up with nationwide home values, reported ATTOM, Irvine, Calif.
Housing Market Roundup Nov. 16, 2020
Redfin, Seattle, said popular second-home destinations including the Jersey Shore, Cape Cod, Lake Tahoe, Palm Springs and Bend, Ore., are heating up and becoming full-time residences for homebuyers who have the luxury of working remotely.
HUD Terminates Affirmatively Furthering Fair Housing Rule
The Trump Administration yesterday abruptly terminated the Obama-era Affirmatively Furthering Fair Housing rule, replacing it with a new rule that HUD Secretary Ben Carson said would ease burdens for local communities dealing with fair housing.
Dealmaker: Canyon Partners, American Capital Group to Build Seattle-Area Multifamily
Canyon Partners Real Estate LLC and American Capital Group announced a joint venture to develop Kinect @ Lynnwood, a 239-unit apartment community in suburban Seattle.
Pre-COVID-19, Opportunity Zones See Strong Home Price Growth
ATTOM Data Solutions, Irvine, Calif., said more than two-thirds of homes in government-designated “Opportunity Zones” saw positive price growth in the first quarter—that is, before the economic effects of the coronavirus took effect.
ATTOM: Home Prices in Opportunity Zones See Annual Increases
ATTOM Data Solutions, Irvine, Calif., said nearly half of Opportunity Zones saw median home prices rise more than the national increase of 9.4 percent from fourth quarter 2018 to fourth quarter 2019.
Residential Briefs
The Federal Housing Finance Agency will extend, from Dec. 19 to Jan. 21, 2020, the deadline for interested parties to provide input on potential changes to Fannie Mae and Freddie Mac Uniform Mortgage-Backed Security pooling practices.
November Housing Report: Most Expensive Zip Codes; Opportunity Zone Price Bump; Millennial Commutes Increase
At $7 million, Atherton, Calif.’s 94027 is the most expensive zip code for the third year in a row, according to an annual report from PropertyShark, New York.