The national housing market has gained a tremendous amount of value in recent years, and a new report is trying 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 $892 billion, an increase of almost $27 billion since last year.
The cumulative worth of the metrowide housing market exceeds that of 40 states. Despite the impressive sum, the value of the regional market remains $55.6 billion, or 5.9 percent, lower than the value observed when the housing bubble peaked.
California is where the real housing wealth has been gained in the last six years. Since 2012, a third of the national market’s $10.9 trillion gain in housing values has come from California.
This article originally published at https://dc.urbanturf.com/articles/blog/892-billion-the-worth-of-dc-residential-real-estate/14853.
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