The NAHB’s Eye on Housing recently analyzed data from the Federal Reserve’s Z.1 Financial Accounts of the United States, which shows a sharp slowdown in the quarter-over-quarter growth of households’ real estate assets. They say that after six consecutive quarters of above 3% growth quarter-over-quarter, Q3 of 2022 only saw a 1.74% increase in households’ real estate asset value.
Some key points:
- The level of households’ real estate assets increased by $0.72 trillion from $41.19 trillion in the second quarter of 2022 to $41.91 trillion in the third quarter of 2022.
- The market value of owner-occupied real estate increased 13.82% on a year-over-year basis from $36.82 trillion in the third quarter of 2021.
- The slowdown in growth of real estate assets coincides with the housing market correction as housing prices adjust across the U.S.
Click here to read the full report at the NAHB’s Eye on Housing.