2020 U.S. Housing Market Saw Largest Gains In 15 Years – NMP Skip to main content

2020 U.S. Housing Market Saw Largest Gains In 15 Years

Jan 26, 2021
Photo of homes in San Francisco.
Director of Events

A new year may be upon us but the housing industry's success of 2020 is still as impressive as ever. Zillow reported that U.S. housing gained nearly $2.5 trillion in value for 2020, the most in a single year since 2005, according to the report. That's not all, the company is predicting the possibility that 2021's gains may eclipse last year's exceptional gains.

With demand being at one of its all-time highs in 2020, driven by low-interest rates, homes were snatched off the market at the fastest pace Zillow has recorded. With inventory being swallowed up, the homes that were left on the market saw large price hikes. Zillow also noted that the Millennial generation aged into prime first-time homebuying age.

"2020 was a record-breaking year for the housing market with intense competition among buyers driving up home prices," said Zillow economist Treh Manhertz. "While many faced financial hardships because of the pandemic, others fortunate enough to maintain stable income took a step back to contemplate what they wanted their home to be and hopped on Zillow to help find a place that filled their wish list. Builder confidence, perhaps in reaction to the boosted demand, hit record highs and more homes are being built as a result. Add that together and you see why the housing market gained more than in any year since the Great Recession."

 
Additionally, Zillow reported that more than a fifth (21.4%) of the nation's housing value resides in California. Homes in California are worth a cumulative $7.8 trillion, more than the next three states combined, and the state boasts four of the 10 metro areas with the highest total housing value -- Los Angeles, San Francisco, San Jose and San Diego.
 
Click here to learn more from the report.
About the author
Director of Events
Navi Persaud is Director of Events at NMP.
Published
Jan 26, 2021
First Major Housing Reform In Decades Becomes Law Without Trump's Signature

Bipartisan ROAD to Housing Act advances supply, construction, and mortgage reforms despite White House protest

Jul 10, 2026
Mortgage Star Conference Honors Women Shaping The Future Of Mortgage Leadership

MWLC honors leaders driving innovation, mentorship, and growth across the mortgage industry

Jul 09, 2026
June Jobs Report Improves Mortgage Rate Outlook

Slower hiring strengthens bonds and eases concerns over additional Fed tightening

Jul 02, 2026
NEXA Founder Mike Kortas Launches evoLend To Help Originators Retain Borrowers

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

Jul 02, 2026
President Trump Cancels 21st Century ROAD To Housing Act

Trump cancels signing the bipartisan housing bill, leaving affordability package in limbo

Jun 24, 2026
Commercial, Multifamily Mortgage Debt Tops $5 Trillion In Q1

MBA says outstanding debt grew by $26.3 billion in the first quarter, led by multifamily lending and increased holdings from banks, agencies, and life insurers

Jun 18, 2026