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Economy
In reply to the discussion: Weekend Economists Light the Candles December 19-21, 2014 [View all]xchrom
(108,903 posts)21. The Value Of America's Housing Market Climbed To $27.5 Trillion This Year
http://www.businessinsider.com/us-home-prices-in-2014-2014-12
The value of all homes in the US increased by $1.7 trillion in 2014 to $27.5 trillion, according to Zillow.
That's an appreciation of 6.7% year over year. Home prices increased 8% in 2013.
"Looking at the total value of the U.S. housing stock proves just how huge and important the housing sector is to the overall economy," wrote Zillow Chief Economist Dr. Stan Humphries in a press release. "Virtually nowhere else will you see gains of more than a trillion dollars in one year represent only single-digit percentages of the total market.
Houston led the jump in year-over-year home prices with homes worth $353 billion, a 13% increase. It was followed by Atlanta ($373 billion, up 10.5%) and San Jose ($544 billion, up 10.2%).
Read more: http://www.businessinsider.com/us-home-prices-in-2014-2014-12#ixzz3MRG8rQyk
The value of all homes in the US increased by $1.7 trillion in 2014 to $27.5 trillion, according to Zillow.
That's an appreciation of 6.7% year over year. Home prices increased 8% in 2013.
"Looking at the total value of the U.S. housing stock proves just how huge and important the housing sector is to the overall economy," wrote Zillow Chief Economist Dr. Stan Humphries in a press release. "Virtually nowhere else will you see gains of more than a trillion dollars in one year represent only single-digit percentages of the total market.
Houston led the jump in year-over-year home prices with homes worth $353 billion, a 13% increase. It was followed by Atlanta ($373 billion, up 10.5%) and San Jose ($544 billion, up 10.2%).
Read more: http://www.businessinsider.com/us-home-prices-in-2014-2014-12#ixzz3MRG8rQyk
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