Americans’ wealth surpassed the $100 trillion mark for the first time in early 2018, as rising home prices offset the hit to households’ assets from a stock-market swoon in the first quarter.

Household net worth—the value of all assets such as stocks and real estate minus liabilities like mortgage and credit-card debt—rose by 1% from the previous quarter, or more than a trillion dollars, to a record $100.768 trillion, according to a report released by the Federal Reserve on Thursday.

Still,...