The housing market has been considerably resilient to the many disruptions caused by the pandemic. According to a Zillow report, of the six major markets which have seen the highest surge in housing value since the beginning of the pandemic, four of them are located in Florida.
In collaboration with industry data, Zillow reported that in a span of just 18 months, the real-estate market in Tampa saw an 88.9% rise in property value. This represents the highest rise among all six markets. In addition, the cities of Miami (86.6%), Jacksonville (82.4%) and Orlando (72.3%) reported an equally impressive increase in property values.
Moreover, the remaining two markets that recorded substantial rise in housing value were San Francisco (61.1%), and Phoenix (60%). This research provides innovative insight into the strength and stability of the market despite the economic turbulence that had been caused by the pandemic.
In conclusion, Zillow’s analysis highlighted the incredible endurance of the U.S housing market in the face of the monumental adversity presented by the pandemic. The study showed that the increase in property values in the key six markets was recorded in a relatively short period of 18 months, allowing for reflections on further market trends.
Major Points:
• Tampa saw a 88.9% rise in property value, highest among all six markets
• Miami (86.6%), Jacksonville (82.4%) and Orlando (72.3%) reported an impressive increase
• San Francisco (61.1%) and Phoenix (60%) recorded substantial rise in housing value
• Zillow’s analysis showed the incredible endurance of the U.S housing market in the face of pandemic
You can read this full article at: https://www.housingwire.com/articles/us-housing-market-is-now-worth-a-record-52-trillion-zillow/(subscription required)
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