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The value of US household real estate rose by about $ 558.9 billion in the second quarter, driven by high real estate valuations.
Photo:
Luke Sharrett / Bloomberg News
The total net worth of US households reached nearly $ 107 trillion in the second quarter of 2018 as higher property and equity prices boosted the wealth of Americans.
The increase over the quarter was 2.1% or $ 2.191 billion, bringing household net worth to $ 106,929 billion, according to data released Thursday by the Federal Reserve. This was a larger gain than the revised revision of $ 1.303 trillion in the first quarter.
Household wealth in the stock market increased by approximately $ 848.3 billion during the quarter, reflecting a higher valuation of equities.
The value of household real estate increased by approximately $ 558.9 billion due to continued high valuations.
Write to Harriet Torry at [email protected]
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