Solid Week For REITs • Housing Boom Continues

January 22, 2021 | Hoya Capital

Solid Week For REITs • Housing Boom Continues Daily Recap Jan 22 Written By Summary U.S. equity markets pulled-back Friday but finished the week with strong gains amid a strong start to corporate earnings season and data showing continued momentum behind the critical US housing sector. Ending the week with gains of 1.9%, the S&P 500 finished lower by 0.3% today while the Dow Jones Industrial Average gave back 179-points and the tech-heavy Nasdaq slipped 0.3%.

Real estate equities finished their second-straight week of solid gains on the upside with the broad-based Equity REIT ETFs gaining 0.2% today with 10 of 19 property sectors in positive territory. Existing Home Sales were stronger-than-expected in December, reaching the fastest sales rate in 14 years as the U.S. housing sector continues to lead the broader economic recovery. No homes for sale. Inventory of existing homes dipped 23% from last year, representing 1.9-months of supply at the current sales pace, the lowest in the survey's history, driving a 12.9% jump in home prices.

Real Estate Daily Recap U.S. equity markets pulled-back Friday but finished the week with strong gains amid a strong start to corporate earnings season and economic data showing continued momentum behind the critical U.S. housing sector. Ending the week with gains of 1.9%, the S&P 500 ETF ( SPY ) finished lower by 0.3% today while the Dow Jones Industrial Average ( DIA ) gave back 179 points and the tech-heavy Nasdaq 100 ( QQQ ) slipped 0.3%.

Real estate equities finished their second-straight week of solid gains on the upside with the broad-based Equity REIT ETF ( VNQ ) gaining 0.2% today with 10 of 19 property sectors in positive territory while Mortgage REITs ( REM ) gained 0.3%. While the major indexes were all lower on the day, Mid-Cap 400 ( MDY ) and Small-Cap 600 ( SLY ) indexes finished higher to finish the week essentially in-line with ...