The US housing market has lost $2.3 trillion in value from its peak as home prices tumble

• US homes lost 4.9% of their value from a 2022 peak, equating to $2.3 trillion, according to a report from Redfin. 
• That's the largest June-to-December drop in percentage terms since 2008.
• The overall value of homes stood at the $45.3 trillion at the end of 2022. 

The US housing market has lost $2.3 trillion in value from a 2022 peak as sale prices crashed, according to a report from Redfin.

That equates to a 4.9% decline, marking the largest June-to-December drop in percentage terms since 2008.