Home Prices Soar 50% Since 2020, Boosting Values to $52 Trillion and Aiding Downsizing Boomers

US home prices have surged around 50% since January 2020, boosting values to $52 trillion. This helps homeowners downsizing fund their next purchase.
California has the most valuable housing market at over $10 trillion - nearly 20% of the US total. Other top markets are Florida, New York, Texas and New Jersey.
Median existing home price rose 53% from $266,300 in January 2020 to $407,100 in August 2022.
Sales plunged from 6.6 million homes a year in late 2020 to 4 million now due to higher prices and mortgage rates.
Older homeowners who can downgrade without a mortgage are the "luckiest" sellers, according to Zillow's chief economist. About 78% of mortgage-free homeowners in 2021 were aged 55+.

US home prices have surged around 50% since January 2020, boosting values to $52 trillion. This helps homeowners downsizing fund their next purchase.
California has the most valuable housing market at over $10 trillion - nearly 20% of the US total. Other top markets are Florida, New York, Texas and New Jersey.
Median existing home price rose 53% from $266,300 in January 2020 to $407,100 in August 2022.
Sales plunged from 6.6 million homes a year in late 2020 to 4 million now due to higher prices and mortgage rates.
Older homeowners who can downgrade without a mortgage are the "luckiest" sellers, according to Zillow's chief economist. About 78% of mortgage-free homeowners in 2021 were aged 55+.