Fed Decision • Strong Housing Data • REIT Earnings

January 26, 2022 | Hoya Capital

Fed Decision • Strong Housing Data • REIT Earnings Real Estate Daily Recap Jan 26 Written By Summary U.S. equity markets retreated from early-session gains to end lower Wednesday after Fed Chair Powell signaled that the central bank plans to begin hiking rates in March to combat inflation. On a third-straight session of volatile intra-day swings, the S&P 500 finished lower by 0.3% while the tech-heavy Nasdaq 100 finished lower by 0.2%, reversing early-session gains of more than 3%.

Real estate equities were among the laggards today as the Equity REIT Index finished lower by 1.6% with all 19 property sectors in negative territory while Mortgage REITs declined 1.0%. New Home Sales rose in December to a nine-month high, indicating that housing demand remained strong in late 2021 despite the rise in mortgage rates and historically low levels of housing supply. Boston Properties (BXP) gained 0.6% today after reporting better-than-expected results yesterday afternoon, highlighted by strong leasing volume despite the persistently low utilization rates of office properties in their core coastal markets of Boston and New York.

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U.S. equity markets retreated from early-session gains to end lower Wednesday after Fed Chair Powell signaled that the central bank plans to begin hiking rates in March to combat inflation. On a third-straight session of volatile intra-day swings, the S&P 500 finished lower by 0.3% while the tech-heavy Nasdaq 100 finished lower by 0.2%, reversing early-session gains of more than 3%. Real estate equities ...