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According to Redfin, the U.S. housing market is nearing $50 trillion in value and Greater Boston is one of the top-valued metros in the entire country.

The Massachusetts capital is fourth in the nation with an aggregate home value of $1,275,370,527,296

“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. That’s great news for the millions of American homeowners who see their equity rising, but first-time buyers are going to keep finding it tough to find an affordable home.”

In percentage terms, the total value of the U.S. housing market grew 6.6 percent year over year according to Redfin. Additionally, The total value of U.S. homes has more than doubled in the past decade, climbing nearly 120% from $22.7 trillion in June 2014.

Growth is also being seen across varying location categories. The total value of homes in urban areas rose 6 percent to $10.3 trillion, while the value of homes in the suburbs eclipsed the $30 trillion mark for the first time, increasing 6.8 percent to $30.1 trillion.

In Greater Boston, aggregate home values were up $85 million, or 7.1 percent. In Worcester, they were up $11.84 million, or 7.7 percent, to $165,479,340,473, according to Redfin.