"Buying a home has become increasingly pricey in the past few years. Now, Zillow has put a staggering number to those higher costs: America's housing market has climbed 57% since 2020, to a record $55 trillion. That means that in just five years, the US housing market's value has climbed $20 trillion, according to data from the real estate company released Monday."
"When you look at housing inventory in New York, there are only half as many homes for sale as there were before the pandemic. So you have the value of the existing housing stock really rising a lot in that market. In contrast, pandemic-era boom states Florida, California and Texas lost billions in their housing markets in 2025. Once magnets for buyers seeking sunshine and often looser Covid restrictions demand has started to cool off in these states."
Zillow reports the US housing market rose 57% since 2020 to a record $55 trillion, adding about $20 trillion over five years. Home values remained historically high despite elevated mortgage rates that sidelined many buyers and prompted sellers to cut asking prices. Gains in 2025 were uneven: New York added $216 billion, followed by New Jersey, Illinois and Pennsylvania, driven by demand outpacing limited inventory. Pandemic-era boom states Florida, California and Texas lost billions as inventory built and sellers offered cuts or concessions. Rising home insurance rates and property taxes contributed to seller pressure and lower offers.
Read at www.mercurynews.com
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