"Record $2 Trillion Surge in US Housing Market Value in 2023"

The US housing market has surged in value by $2.4 trillion over the past year, reaching a total value of $47.5 trillion, with a significant decrease in available listings. Cities in the Northeast and Midwest have seen the largest price increases, while urban areas and suburbs have also experienced notable boosts. In Seattle, the housing market is now valued at over $911 billion, up 4.6% from last year, and Tacoma has seen a 5.6% increase. Despite potential future interest rate cuts, homebuyers continue to face limited options and high prices.