September 12, 2023
.Consumer net worth rose $5.5 trillion in the second quarter. That works out to an annualized rate of increase of 14.8% which follows an 8.2% increase in the first quarter. Over the past year consumer net worth has increased 4.9%.
The growth in net worth reflects both the steady increase in stock prices during the second quarter as well as the growth in home prices. Following the recession and pandemic consumer net worth has resumed its growth and it now at a record high level.