US News

U.S. Household Wealth Hit Record High Last Quarter


U.S. household wealth rose by $2.19 trillion to a fresh high in the second quarter, boosted by a stock-market rally and higher property values, figures from the Federal Reserve showed Thursday.

Household wealth reflected continued gains in property prices and a 2.9 percent advance in the S&P 500 Index last quarter after a pullback earlier this year. Stocks have since advanced, trading at a record on Thursday. The S&P CoreLogic Case-Shiller 20-city home values index has posted annual gains of at least 6 percent each month since September 2017.

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