When you buy a home, you’re making an investment in the housing market. It may not be your primary reason for buying or your focus while living there, but it’s an investment nevertheless. The ups-and-downs of the market will affect your home’s value, how much equity you gain, and your options should you decide to move. In other words, market conditions should matter to you whether you’re a prospective home buyer or a current homeowner. So how’s the market doing? Well, according to a recent analysis of the total value of the U.S. housing market, it’s surging. The analysis found the total value of every home in the country is now around $52 trillion – up 2.6 trillion over the past year and $1.1 trillion higher than its previous peak last June. The surge in value can be attributed to a couple of factors, including rising home prices and an increase in new homes built this year. (source)
