"The value of the U.S. housing market value hit $55.1 Trillion in June, Zillow found, and nine metros hold nearly one-third of the nation's housing wealth. New York ($4.6 trillion), Los Angeles ($3.9 trillion), San Francisco ($1.9 trillion), Boston ($1.3 trillion), Washington, D.C. ($1.3 trillion), Miami ($1.2 trillion), Chicago ($1.2 trillion), Seattle ($1.1 trillion) and San Diego ($1.0 trillion) all have housing markets worth over $1 trillion."
"[S]maller markets are driving more of today's housing wealth gains," researchers said. "Excluding New York, which gained the most of any metro area by far at $260 billion, the rest of the $1 trillion metros combined to lose $18 billion over the past year. Even with New York's gain, these nine metros delivered just 28.1% of last year's national increase - below their 31.9% share of total housing wealth."
U.S. housing market value reached $55.1 trillion in June, with nine metropolitan areas holding nearly one-third of that wealth. The nine metros with markets over $1 trillion are New York ($4.6T), Los Angeles ($3.9T), San Francisco ($1.9T), Boston ($1.3T), Washington, D.C. ($1.3T), Miami ($1.2T), Chicago ($1.2T), Seattle ($1.1T) and San Diego ($1.0T). Smaller markets are driving a larger share of recent housing wealth gains. Excluding New York, the $1 trillion metros together lost $18 billion over the past year, and the nine metros contributed 28.1% of last year’s national increase. Since February 2020, Boston’s market grew by $411 billion but lost $3 billion in the past year.
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