The value of the U.S. housing market continues to climb, gaining 6.2 percent in 2018 to reach a total value of $33.3 trillion, according to Zillow.
A third of the market’s $10.9 trillion gain since its housing-bust low in 2012 has come from California. The Golden State’s value has climbed $3.7 trillion since February 2012, the nation’s housing-crash low.
The total value of all homes in the New York City metro area is the highest among metros analyzed, at $3 trillion — on its own accounting for 9.1 percent of the country’s total housing value. Four of the country’s 10 most valuable markets are in California: Los Angeles, which rose 5.2 percent to $2.9 trillion; San Francisco, up 9.3 percent to $1.6 trillion; San Jose, which gained 10.4 percent to $799.6 billion; and San Diego, up 3.4 percent to $673.5 billion.
The housing stock in some pricey metro areas is so valuable, in fact, that the total value in one market often eclipses that of all housing in an entire state. For example, all homes in the Washington, D.C., metro are worth a combined $892 billion — which is more than the values of all homes in 40 individual states, including Colorado ($833.8 billion), Arizona ($708.1 billion), Ohio ($695 billion) and Oregon ($451.8 billion).
