Real Estate Database Ranks 2016 A Record Year
Phoenix closes out 2016 with total home values of just over $441 billion and total rents paid of $7.1 billion.
That’s according to year-end reports from Zillow.com, an online real estate database.
The total value of U.S. housing stock grew by $1.6 trillion over the past year.
Zillow’s analysis said this is record growth.
Zillow also said the overall housing market has regained all the value lost during the housing crisis between 2006 and 2012, but about 60 percent of the markets in the U.S. are still below the maximum values reached during the bubble.