The US housing market hits a record value of $47 trillion as the inventory shortage fuels a price boom

• The US housing market just reached a new all-time high valuation of $47 trillion, Redfin reported.
• That surpassed the previous record of $46.6 trillion set a year earlier.
• Low inventory has pushed up home values, according to a Redfin analysis of 90 million US residences. 

Tight inventory in the US housing market helped push its total valuation a new all-time record of $46.8 trillion in June, according to Redfin.