US home values notch biggest rise since 2005

[BOSTON] US homes gained US$1.9 trillion in total value this year, the biggest jump since 2005, as the real estate market rebounds from the recession, Zillow said.

At the end of 2013, the housing stock will be worth about US$25.7 trillion, it said yesterday in a statement. US homes as a whole lost US$6.3 trillion in value from 2007 through 2011 and have recovered 44 per cent of that, according to the Seattle- based property-data firm.

Home prices are rising across the US as investors drain markets of inventory and improving employment brings in more buyers.