US Housing Market Hits $23 Trillion Across Top Metros, Soaring 38% Since 2019
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The total value of housing across the 50 largest US metros has reached $23.48 trillion, up 38% since 2019.
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New York, Los Angeles, and San Francisco have the most valuable housing markets, worth $2.75 trillion, $2.31 trillion, and $1.39 trillion respectively.
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Mortgage rates have surged but home prices haven't fallen as expected, making housing very unaffordable.
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The 50 biggest metros make up 64.1% of the total US housing market value of $36.6 trillion.
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Housing values are expected to keep climbing over time, with more metros likely reaching $1 trillion valuations.