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U.S. Housing Market Reaches Record-High Value Due to Construction Surge: Zillow Report

According to NBC Montanta, the U.S. housing market has “rebounded impressively” this year and now sits at its highest level of total value ever, according to Zillow.

The market has gained more than $2.6 trillion over the past year after the total value of residential real estate fell during the second half of 2022.

The estimation of market value reflects both new homes and the price appreciation of existing homes. But construction has been “the powerhouse behind this surge,” according to Zillow.

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