US housing market has lost $2.3 trillion in value from its peak as home prices tumble

Friday, February 24, 2023 | Tag Cloud

(Worthy News) – The US housing market has lost $2.3 trillion in value from a 2022 peak as sale prices crashed, according to a report from Redfin.

That equates to a 4.9% decline, marking the largest June-to-December drop in percentage terms since 2008.

Overall US home values totaled $45.3 trillion at the end of last year. While that’s up 6.5% from December a year earlier, that’s the smallest year-over-year increase since August 2020. [ Source: Business Insider (Read More…) ]

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