Buying a home has become increasingly pricey in the past few years. Now, Zillow has put a staggering number to those higher costs: America's housing market has climbed 57% since 2020, to a record $55 trillion.

That means that in just five years, the U.S. housing market’s value has climbed $20 trillion, according to data from the real estate company released Monday. Advertisement

Zillow's findings highlight a housing market that remains historically expensive, with values climbing even as elevated mortgage rates sideline would-be buyers and force more sellers to slash asking prices.

But the housing market's gains haven't been spread evenly in 2025. New York added $216 billion in value over the last year, more than any other state. New Jersey, Illinois and Pennsylvania were close beh

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