September 17, 2024 7:40 am
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Phoenix joins list of ‘trillion-dollar’ metros in housing value

By Independent Newsmedia

The Phoenix market has seen home prices rise during the past four years, and this month it joins an exclusive club: metro U.S. cities with a home market worth more than $1 trillion.

The report, from real estate website Redfin, found eight U.S. metro areas where the combined housing market value was more $1 trillion. Phoenix joins Anaheim, Califonia; Chicago; Washington, D.C.; New York; Los Angeles; and Boston as those markets.

Phoenix just crossed the threshold with a market value of $1.001 trillion. In comparison, New York’s housing market is valued at nearly $2.48 trillion, and Los Angeles at $2.19 trillion.

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