U.S. Housing Market Value Tops $33.3 Trillion In 2018 With Help From California
The U.S. housing market continued to climb to new heights as it added a total of $1.9 trillion to its total value, bringing the final number for 2018 to an astounding $33.3 trillion. A new HousingWire report revealed that California alone is responsible for one-third of the total.
"In fact, the Golden State’s housing market value has climbed $3.7 trillion since February 2012," according to the report.
"Furthermore, a third of the nation’s housing market value can be attributed to California, which is the only state that has experienced a gain of more than $1 trillion within the same time period, according to Zillow."
New York is also among the top contributing states as it's current value sits at $3 trillion, 9.1% of the nation's total, according to HW.
"During the second half of the year, appreciation slowed sharply in the priciest corners of the country while it picked up in affordable hotspots," said Zillow Senior Economist Aaron Terrazas, in a recent press release.
"Periods of stability often precede periods of instability, and the outlook for 2019 is certainly both cloudier and blurrier than the outlook a year ago."
To read more about the big gain in the U.S. Housing Market's total value for 2018, click on the image above.