The net worth of families and nonprofit organization in the U.S. rose $1.3 trillion in Q2 2013 due in large part to rising home values and stock market gains — per the Q2 2013 Federal Reserve Statistical Release that was provided to the public in late September 2013.
The report went on to state the net worth of households rose 1.8% to $74.82 trillion during the same period – the highest level since records began in 1945, without adjusting for inflation. The net worth of U.S. households is calculated as the value of homes, stocks and other investments minus debts and other liabilities.
The latest numbers show Americans are making progress repairing their balance sheets in the wake of the financial crisis five years ago. The figures reflect the value of corporate equities and mutual funds owned by households rose nearly $300 billion, while the value of homeowner real estate climbed about $525 billion. U.S. households also have more equity in their homes. A measure of owners’ equity in household real estate as a percentage of household real estate holdings rose to 49.8% from 48.1% a quarter earlier.
More positive news for homeowners came from the National Association of Realtors. In their latest report, the national median price of existing single-family homes was $203,500 in Q2 2013, up 12.2 percent from $181,300 during the same period in 2012.
The CoreLogic Equity Report for Q2 2013 shows 2.5 million homes are no longer underwater, meaning the home is worth more than what is owed. The amount of homes that remain underwater is down to 14.5%, which is an improvement over the 19.8% reported underwater in Q1 2013. CoreLogic is a leading provider of consumer, financial and property information, analytics and services.
Curious what your Fort Lauderdale home is worth? Contact us for a free, no obligation highest price market analysis. You might be pleasantly surprised to find your net worth has increased!
