America’s housing market is more valuable than ever.
The combined value of every home in the U.S. is expected to climb to a record high of $29.6 trillion this year, up 5.7 percent from last year, according to Zillow, an online real estate marketplace.
The nation’s housing stock has regained all the value lost since the market’s collapse, the company’s latest report found. The total value of homes fell by $6.4 trillion between 2006 and 2012.
The Miami and Fort Lauderdale region was the eighth most valuable this year with its homes totaling $819 billion, or 2.8 percent of the nation’s overall housing value. The region’s rental market was the seventh most valuable with an estimated $12.3 billion paid in rent as of December 30.
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