The latest Federal Reserve Z.1 Financial Accounts of the United States, i.e., the “Flow of Funds”, show that in the second quarter of 2021 the aggregate market value of all owner-occupied real estate in the United States registered the largest quarterly increase in the last 21 years of data. From $33.8 trillion in the first quarter of 2021, real estate rose by $1.1 trillion in value to $34.9 trillion, making it the largest quarterly increase on record. As a previous post details, the second quarter also saw unsustainably high home price appreciation due to lack of inventory.
