IRVINE, CA -- Many
down-and-out neighborhood housing markets across the country are on the rebound
thanks to a confluence of market forces working in their favor. Tight inventory
of homes for sale combined with a dearth of new homebuilding is convincing
buyers and investors to reconsider buying in what they once might have
considered “bad” neighborhoods.
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| Daren Blomquist |
RealtyTrac (now an ATTOM
Data Solutions company) analyzed housing market and neighborhood quality data
in 3,561 U.S. zip codes with a combined population of 124 million to select the
35 best “bad” neighborhoods to buy a home.
“The underperforming
school scores and inflated rates of underwater homes in these markets
demonstrates they are lagging the housing recovery seen across much of the rest
of the nation,” said Daren Blomquist,
senior vice president ATTOM Data Solutions.
“But it is clearly evident
from this data that many individuals and institutions are betting on these
hyperlocal housing markets to still bounce back.
"Home flipping returns are
substantially above the national average, indicating strong buyer demand for
fixed-up homes; construction loans are increasing, indicating increased
development often at a large scale; and the share of millennial population is
increasing, indicating that the pool of new renters and homebuyers is growing.”
For a complete copy of the company’s news release,
please contact:
Jennifer von Pohlmann
949-502-8300 ext 139
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