U.S. Housing Value has Surged, while Metro Phoenix Value has Declined
The U.S. housing market nationwide is valued at nearly $52 trillion, which is $1.1 trillion more than its previous high in June 2022. That’s due partly to surging home values as well as new home builds. California holds nearly 20 percent of the total with more than $10 trillion in housing value, but in a twist, Florida surpassed New York for the number two spot. Phoenix, meanwhile, holds $903.2 billion in home value but sunk 2.1 percent since the peak last year.
