A report from LendingTree explored what the most valuable cities in America are by analyzing the total value of residential real estate in American cities. The report finds American households own $29.2 trillion of residential real estate—a large portion of the $107 trillion in total household net worth in America.
"The real estate values come from the My LendingTree property value database, which is a collection of real estate data of more than 155 million U.S. properties," according to the report. "The total value of residential real estate in the database was $32.6 trillion, close to the Federal Reserve’s estimate of total residential real estate value of $32.9 trillion."
LendingTree found that the top five most valuable cities in America are New York, Los Angeles, San Francisco, Chicago and Washington D.C. New York landed the top spot with a total residential real estate value of $2.8 trillion and a median home value of $501,000. Los Angeles came in at number two with a total residential real estate value of $2.3 trillion and a median home value of $668,000. San Francisco earned the third spot, with a total residential real estate value of $1.3 trillion and a median home value of $959,000.
LendingTree also provided a complete list of the top 50 cities ranked by value. You can check the full list below.
For independent mortgage bankers, developing sound judgment can strengthen recruiting, retention, and long-term performance
Mentorship in mortgage lending is as important as ever in our rapidly changing and complex industry. For independent mortgage bankers in particular, the stakes are high. Compressed margins, elevated rates, and intensifying competition for experienced loan officers have made ...
Mike Kortas calls loanDepot a "sinking ship" in social media post while promoting NEXA's recruiting package as the two companies remain embroiled in litigation
Editor's note: This story has been updated to provide additional context about the New York Stock Exchange's continued listing standards and compliance process. The increasingly public rivalry between NEXA Lending CEO Mike Kortas and loanDepot took another turn Thursday, wit...
New Fannie Mae-, Freddie Mac- and Ginnie Mae-approved mortgage servicer aims to keep originators connected to borrowers through servicing data, payoff visibility and retention tools