WASHINGTON (AP) ? Americans' wealth dipped about 0.5 percent in the April-June quarter as a drop in stock prices more than offset a gain in home values.
Yet since June, a resurgent stock market has jumped about 7 percent ? more than reversing last quarter's 3 percent drop in stock prices. And it's brought Americans closer to regaining all the wealth they lost to the Great Recession.
The Federal Reserve says household net worth fell to $62.7 trillion in the April-June quarter. A 2.1 percent increase in home values added $355 billion. But the value of stock holdings fell about $600 billion.
Household wealth, or net worth, reflects the value of assets like homes, bank accounts and stocks minus debts like mortgages and credit cards. It peaked before the recession at $67.5 trillion.
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