Anaheim’s housing market has reached a significant milestone, joining the exclusive group of U.S. metro areas with a total home value exceeding $1 trillion.

According to real estate portal Redfin, Anaheim’s home values have surged by 12.1% over the past 12 months, reflecting a broader trend in the U.S. housing market.

The number of trillion-dollar housing markets in the nation has doubled over the past year, with Anaheim joining more established metro areas: Los Angeles, New York, Atlanta and Boston.

According to Redfin, Chicago, Phoenix and Washington, D.C., also crossed the trillion-dollar mark over the past year. San Diego isn’t far behind.

“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,” said Redfin Economics Research Lead Chen Zhao. “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.”

Anaheim’s rise to trillion-dollar status is evidence of its transformation from a suburban community to a major economic hub in Southern California. The city is home to major attractions, including Disneyland, Angel Stadium, Honda Center, and a major convention center, and has a relatively low unemployment rate of 4%.

Trillion-Dollar Club: Top 10 Metros By Aggregate Home Value

Metro Aggregate Home Value Year over Year Increase
1 New York, NY $2,479,781,753,057 $189,976,135,666
2 Los Angeles, CA $2,188,583,730,489 $127,975,276,850
3 Atlanta, GA $1,287,842,232,673 $62,317,379,190
4 Boston, MA $1,275,370,527,296 $85,007,545,179
5 Anaheim, CA $1,118,903,198,701 $121,035,890,228
6 Chicago, IL $1,078,649,184,844 $84,942,434,115
7 Washington, DC $1,053,880,089,173 $67,099,426,402
8 Phoenix, AZ $1,001,000,889,736 $52,632,267,259
9 San Diego, CA $986,866,999,457 $87,633,883,434
10 Seattle, WA $970,865,521,164 $75,384,091,030
Source: Redfin

Redfin data shows Cape Coral, Florida, was the only metro area to record a decline in total home value, falling 1.6% to $204.2 billion.

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