The national housing market has gained a tremendous amount of value in recent years, and a new report aims to quantify the increase.
The Zillow report released last week analyzes the aggregate value of residential real estate in each state and some of the largest metro areas. For the DC area, the housing market is worth $1.147 trillion, an increase of almost $255 billion since just before the pandemic.
"The four most valuable metro areas have remained largely unchanged over the past five years: New York, Los Angeles, San Francisco and Boston," the report stated. "A new entrant, Miami, has claimed the fifth spot, jumping all the way from ninth as recently as May 2021 to edge Washington, D.C., out of the top five."
California is where the real housing wealth has been gained in the last six years. Since 2017, the housing values in California have risen from $6.4 trillion to $10.2 trillion.
This article originally published at https://dc.urbanturf.com/articles/blog/11_trillion_the_reported_worth_of_dc-area_real_estate/21518.
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