Household wealth increased from October through December by the most in a year as stock prices advanced to an all-time high at the end of 2014, Bloomberg reported.

Net worth for households and nonprofit groups rose by $1.5 trillion in the fourth quarter, or 1.9 percent from the previous three months, to $82.9 trillion, the Federal Reserve said today.

Retail spending, on the other hand, dropped for three consecutive months through February, according to a separate report.

Record stock prices and steadily increasing home values have made U.S. households wealthier as the economic expansion lumbered on. While faster job growth and low fuel prices also have helped lower-income households, bigger wage gains will strengthen balance sheets further.

“The recovery is broadening its reach — it’s not just hitting the upper-level of income distribution but starting to help a broader segment of the population, and that’s some good news,” said Dana Saporta, a U.S. economist at Credit Suisse Securities USA. At the same time, “credit is flowing much better now.”

The value of financial assets, including stocks and pension fund holdings, held by American households increased by $1.2 trillion in the fourth quarter, according to the Fed report. The Standard & Poor’s 500 Index climbed 4.4 percent from Sept. 30 to Dec. 31. The index is down 0.9 percent in the first quarter through yesterday.

Though the housing market has made fitful progress over the past year, the improving jobs picture may boost prospects for growth in the industry, which would in turn bolster household wealth. Household real-estate assets climbed by $265.2 billion, according to the Fed report. Owners’ equity as a share of total household real-estate holdings rose to 54.5 percent last quarter from 54 percent in the previous three months.

Judging by today’s report on retail sales, we might be sitting on that newfound wealth rather than spending it.

The U.S. Commerce Department said today that retail sales dropped 0.6 percent for the third month in a row in February, as receipts fell in almost all categories, Reuters reported. Sales had declined 0.8 percent in January.

It was the first time since 2012 that sales had dropped for three consecutive months. Economists had forecast retail sales increasing 0.3 percent last month.

Retail sales excluding automobiles, gasoline, building materials and food services were flat after the dip in January.

“Consumers may have throttled back spending, but they maintain the ability and means to spend,” said Jack Kleinhenz, chief economist at the National Retail Federation. “With the onset of warmer, spring-like temperatures and an earlier Easter, consumers will likely shake off the winter chills.”