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【World Property Journal】Combined Value of U.S. Housing Market Hits $36.2 Trillion in 2020

【World Property Journal】Combined Value of U.S. Housing Market Hits $36.2 Trillion in 2020

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Zillow's latest research shows the U.S. housing market gained nearly $2.5 trillion in value in 2020 -- the most in a single year since 2005. The full stock of U.S. housing is now worth $36.2 trillion.

2020 was a remarkable year for the housing market. Strong demand drove intense competition among buyers, causing homes to fly off the market at the fastest pace Zillow has recorded and pushing prices higher. Housing demand was already strong coming into the year with the large Millennial generation aging into prime first-time home-buying age and mortgage rates hovering near record lows. The widespread shift to remote work during the COVID-19 pandemic prompted many to reevaluate their housing options and supercharged demand.
 

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