The Federal Reserve has released its Q2 flow of funds report.

According to the release, household net worth in America rose $US1.34 trillion — or 1.8% — in the second quarter to $US74.8 trillion.

The rise in net worth in Q1 was revised down to $US2.838 trillion from the previously reported $US3.003 trillion advance.

The report showed that rising stock and house prices drove the gains.

The value of household real estate rose 2.9% in Q2 after advancing 4.8% in the first quarter.

The value of corporate equities rose 1.9% in Q2 after posting 9.0% gains in Q1.

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