US Housing Market Recoups $3 Trillion Lost in Recent Slowdown
- Total value of US homes hit a record $47 trillion in June
- Redfin’s Zhao says shortage of homes is propping up values
Residential homes in Teaneck, New Jersey, US.
Photographer: Yuvraj Khanna/BloombergThis article is for subscribers only.
The US housing market has regained the nearly $3 trillion in value that was wiped out during the past year’s slowdown, according to an estimate from brokerage Redfin Corp.
A shortage of listings has pushed up prices, boosting the total value of US homes to a record $47 trillion, the brokerage reported.