Hurricane Inbound | Home Sales Jump | Fresh Records

August 25, 2020 | Hoya Capital

Hurricane Inbound | Home Sales Jump | Fresh Records Daily Recap Aug 25 Written By Daily Recap U.S. equity markets finished mixed on Tuesday despite a strong slate of housing data this morning as investors look for a catalyst to drive equity markets through recent record highs. Following gains of 1.0% yesterday, the S&P 500 eclipsed new records today, finishing higher by 0.4%. The Dow Jones Industrial Average declined 60 points following yesterday's 378 point-rally.

Coming off gains of 0.7% yesterday, the Equity REIT ETF (VNQ) finished higher by 0.3% today with 11 of 18 property sectors finishing in positive territory. Mortgage REITs fell 0.6%. New Home Sales topped estimates in July, surging 13.9% from June and were higher by 36.3% from last year. The 901k seasonally-adjusted rate was the strongest sales rate since 2007. After a quiet few years of hurricane activity, the 2020 storm season is expected to be a big one.

Hurricane Laura now threatens coastlines along the Gulf of Mexico. Our Real Estate Daily Recap discusses the notable news and events in the real estate sector over the last trading day and highlights sector-by-sector performance. We publish this note every afternoon at HoyaCapital.com and occasionally on Seeking Alpha to cover significant news and events. Subscribe to our free mailing list to make sure you never miss the latest developments in the commercial and residential real estate sectors.

You can also follow our real-time commentary on Twitter and LinkedIn . U.S. equity markets finished mixed on Tuesday despite a strong slate of housing data this morning as investors look for a catalyst to drive equity markets through recent record highs. Following gains of 1.0% yesterday, the S&P 500 ETF ( SPY ) finished higher by 0.4% and the Nasdaq 100 ETF ( QQQ ) jumped 0.8% but the Dow Jones Industrial Average ( DJI ) declined 60 points following yesterday's 378 point-rally.

Coming off gains of 0.7% ...