Home Values In 2 SoCal Cities Top $1 Trillion As Prices Surge

ANAHEIM, CA — Southern California now includes to two metros in the trillion-dollar club, after Anaheim’s aggregate home value reached more than $1 trillion, according to Redfin.

Values in Anaheim increased by almost $121.04 billion in the past 12 months, for an aggregate of nearly $1.12 trillion, according to the real estate website, which noted the area had the third-highest gains in the country at 12.1 percent.

In passing the trillion-dollar mark, Anaheim joins Los Angeles, which has an aggregate value of almost $2.19 trillion and is up nearly $127.98 billion year-over-year, according to Redfin.

Los Angeles has the nation’s second-highest aggregate value, behind New York at roughly $2.48 trillion and ahead of Atlanta at about $1.29 trillion. Anaheim is fifth, after Boston at nearly $1.28 trillion, and San Diego, with an aggregate value of $986.87 billion, is ninth.

The number of metros worth at least $1 trillion doubled this year, up from four to eight, with Chicago, Phoenix and Washington joining the club along with Anaheim. San Diego and Seattle are expected to cross the threshold within the year, according to Redfin.

While San Francisco’s aggregate value is $700 billion, the Bay Area as a broader region is worth almost $2.5 trillion, including Oakland and San Jose.

The U.S. housing market grew 6.6 percent year-over-year, according to Redfin, which noted American homes have more than doubled in total value during the past decade, from $22.7 trillion in June 2014 to $49.6 trillion in 2024.

“The value of America’s housing market will likely cross the $50 trillion threshold in the next 12 months as there are not enough homes being listed to push prices down,” Redfin Economics Research Lead Chen Zhao said in a news release.

“Mortgage rates have started falling, but many potential sellers and buyers are waiting to make a move, meaning we are likely to continue seeing a pattern where prices slowly tick up. That’s great news for the millions of American homeowners who see their equity rising, but first-time buyers are going to keep finding it tough to find an affordable home.”