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U.S. Household Net Worth Posts Smallest Gain of Covid Recovery

  • Net worth grew $2.4 trillion in third quarter to fresh record
  • Softer advance in period reflected pullback in stock market
   
Photographer: Cooper Neill/Bloomberg

Growth in U.S. household net worth cooled in the third quarter as wealth created by rising home values was eroded by a temporary pullback in the stock market.

Household net worth increased by almost $2.4 trillion, or 1.7%, after a $6.14 trillion jump in the second quarter, a Federal Reserve report showed Thursday. While the quarterly advance was the smallest of the pandemic recovery, net worth still climbed to a fresh record of nearly $145 trillion.