Chicago, Phoenix, Washington and Anaheim, California, have joined New York, Los Angeles, Atlanta and Boston as cities where total home values top $1 trillion, according to the report. San Diego and Seattle are close behind, with total home values of approximately $987 billion and $971 billion, respectively. That’s been the story of the US housing market for years as Americans grapple with one of the most unaffordable housing markets in a generation. Home prices fell in only one metro areaHome values in some cities are growing more quickly than others, Redfin’s report found. Only one metro area saw its home values fall, Redfin said: Cape Coral, Florida saw the value of its housing market drop of 1.6% over the last year.

Source: CNN August 08, 2024 14:09 UTC