Search
 

Home Market Hits $49.7T Despite Slowest Growth Since 2019

Homes in the Northeast gained the most combined value led by Albany and Rochester.

By Kristen Smithberg | February 24, 2025 at 03:14 PM

Despite gaining $2.5 trillion in value last year, the U.S. home market recorded its slowest annual growth since 2019 at 5.2% in 2024 and the second-slowest growth since 2011. The combined homes market was valued at $49.7 trillion to end the year, more than double the $23 million combined value set in 2014, according to Redfin research.

The combined value of homes across the country peaked at $50.4 trillion in July, but dropped toward the end of the year due to seasonal sales trends that typically see overall home values rise during the spring and summer months and fall during autumn and winter months. New construction also helps underpin the overall increase in market valuation, Redfin noted.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.