Household wealth in US up $22 trillion since 2007

The extent of the recovery from the Great Recession can be seen in this week’s figures from the Federal Reserve on household net worth. The total wealth grew 1.2% in Q2 from Q1. While net worth did not recover to the 2007 pre-Recession level until 2012, the rapid growth since then means that household net worth has grown by one-third, from $66.5 trillion to $89.1 trillion, since 2007.

Household wealth

Source: Federal Reserve

Equity in Homes
As home prices have recovered, so has the amount of equity we have in our homes. This has recovered to 57.1% of the value of Americans’ homes, the highest figure since 2006, sharply up from 36% in 2007.

If you are considering selling your home please contact me on 617.834.8205 or for a free market analysis and explanation of the outstanding marketing program I offer.

Not sure which broker to use to sell your home? Read  Which broker should I choose to sell my house?

If you are looking to buy, I will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.

Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated