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- The US housing market's total valuation has hit a record high $51.9 trillion, Zillow said.
- That's up by $2.6 trillion over the past year and nearly 50% more than what it was before the pandemic.
- Florida surpassed New York as the state with the second most valuable housing market.
The US housing market's total valuation is nearly 50% more than what it was before the pandemic, and that's not because of climbing home prices, according to Zillow.
Instead, new construction has pumped up the market, which saw its value expand by more than $2.6 trillion over the past year to a record high total of $51.9 trillion.