U.S. Household Net Worth Increases $1.8 Trillion

U.S. household wealth kept rising in the second quarter, though at a slower pace than at the start of the year, as the stock market hit fresh highs and home-price gains remained intact.

Net worth for households and non-profit groups increased $1.83 trillion, or 1.6%, to $113.5 trillion after an upwardly revised 5% gain in the prior period, Federal Reserve data showed Friday. Household debt growth accelerated to a 4.3% annual pace, the fastest since 2017, from a downwardly revised 2.1% rate in the prior quarter.