$2.3 Trillion In Home Values Lost

 

 

$2.3 Trillion In Home Values Lost

 

U.S. Homeowners Have Lost $2.3 Trillion In Value Since June Peak The total value of U.S. homes was $45.3 trillion at the end of 2022, down 4.9% ($2.3 trillion) from a record high of $47.7 trillion in June. That’s the largest June-to-December drop in percentage terms since 2008. The housing market has been shedding value because homebuyer demand has waned, which has also caused home prices to fall from their peak. The median U.S. home sale price was $383,249 in January, down 11.5% from a peak of $433,133 in May. Homebuyer demand slowed in large part because rising mortgage rates—a consequence of the Federal Reserve’s effort to curb inflation—made purchasing a home more expensive.

 

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