The U.S. housing market hit a new high, with New York leading metro areas in growth. According to a recent analysis, the total value of U.S. homes reached a record $55.1 trillion. New York has gained over $200 billion in the past year.
Highlights
- New York’s housing market added roughly $216 billion in value over the past year.
- The overall gain in the US housing market was $862 billion, with New York accounting for one-quarter.
- Despite growth, high costs cooled buyer demand in the US housing market.
A Landmark for the US Housing Market
PR Newswire reports that U.S. home values have climbed $20 trillion since 2020, reaching a record $55.1 trillion. Rising costs decreased buyer demand, slowing growth and leaving the U.S. housing market with a modest $862 billion gain.
Despite this, states in the Northeast are seeing renewed growth. New York, in particular, is emerging as a winner in the housing market, with the highest growth among the metro areas.
New York Housing Industry Gains $216 billion Over the Past Year
While housing growth in the South and Mountain West has slowed since the pandemic, New York is setting new records. According to the data collected from Zillow, New York (+1.5 trillion) has been among the states with the biggest total value increases during the pandemic.
Between July 2024 and June 2025, it gained around $216 billion in the housing market. This value is the biggest increase of any US state, accounting for nearly one-quarter of the nation’s growth.
Among the nine U.S. metro areas with housing markets over $1 trillion, New York saw the largest increase, reaching a total value of $4.6 trillion. Along with this record, it is among the places that hold about one-third of America’s housing wealth (31.9%).
As the U.S. housing market evolves, New York’s growth underscores the city’s influence on national trends.
