Correction Deepens • Housing Shortage • Jobless Claims Jump

January 20, 2022 | Hoya Capital

Correction Deepens • Housing Shortage • Jobless Claims Jump Real Estate Daily Recap Jan 20 Written By Summary U.S. equity markets reversed early-session gains to end lower Thursday as ongoing concerns over stagflation were deepened by employment data showing that jobless claims rose to the highest-level since October. Pushing their week-to-date gains to nearly 4%, the S&P 500 slipped another 1.2% today while the tech-heavy Nasdaq 100 declined 1.3% to push deeper into "correction territory." Real estate equities were among the better-performers today with the Equity REIT Index declining by 1.3% with all 2-of-19 property sectors in positive territory while Mortgage REITs declined 1.4%.

Housing data today showed that Existing Home Sales in the U.S. surged to a 15-year high in 2021, but moderated slightly in December as housing supply levels dipped to historic lows. The U.S. housing industry has gathered momentum into the winter months, confirmed by a handful of reports over the past 24 hours. ReMax (RMAX) reported today that December 2021 home sales were the second-highest for the month on record.

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U.S. equity markets reversed early-session gains to end lower again Thursday as ongoing concerns over stagflation were deepened by employment data showing that jobless claims rose to the highest level since October. Pushing their week-to-date gains to nearly 4%, the S&P 500 slipped another 1.2% today while the tech-heavy Nasdaq 100 declined 1.3% to push deeper into "correction territory." The Mid-Cap 400 declined 1.8% while the Small-Cap ...