The total value of the U.S. housing stock grew to a record-high $29.6 trillion in 2016, according to new analysis. The housing market saw a strong year of appreciation, growing 5.7 percent in value, or $1.6 trillion.
The cumulative value of all homes in the U.S. had declined by $6.4 trillion beginning in 2006 as the housing market collapsed.
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The real estate website Zillow reports that Los Angeles and New York metros hold the highest shares of the country’s overall housing value, at 8.6% and 8%, respectively.
The next most valuable metro is San Francisco, worth 4.2% of the overall housing value.
(Source: Zillow)
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