U.S. Home Values Gained $1.1 Trillion in 2015

Seattle, WA, December 30, 2015—The value of all homes nationwide grew $1.1 trillion in 2015 and is expected to end the year at $28.5 trillion total, according to Zillow. The value of the entire housing stock grew 4.1% over the past year, slower than the 6% growth in 2014.

The total value of all homes has regained $5.3 trillion since hitting its lowest point during the housing bust in December 2011 but is still $782 billion below the bubble peak value of $29.2 trillion reached in October 2006.

Americans shelled out nearly $20 billion more in rent in 2015 than in 2014, as people around the country set up 1.8 million new renter households and median monthly rents rose at a record pace. In all, renters spent $535 billion on rent in 2015, nearly as much as the total budget of the Department of Defense ($575 billion). In 2014, they spent $516 billion.

Home values rose 3.9% annually in November to a Zillow Home Value Index of $183,000, according to Zillow's November Real Estate Market Reports.

Rents also continued their steady climb, growing 3.8% annually to a Zillow Rent Index of $1,382. The pace of rental appreciation has slowed over the past four months. Only San Francisco and Portland saw rents grow at a double-digit pace, as Denver and San Jose slipped back into single-digit growth.