Vaccine Deliveries | Record November | Housing Shortage

November 30, 2020 | Hoya Capital

Vaccine Deliveries | Record November | Housing Shortage Daily Recap Nov 30 Written By Summary U.S. equity markets retreated Monday on the final day of a historically strong November, a month that saw investors rotate back into pandemic-sensitive equity sectors following progress on vaccine development. Ending the month with gains of 11.1%, the S&P 500 retreated by 0.4% today while the Dow Jones Industrial Average dipped 272 points but finished the month higher by 12.1%.

Closing out the month with gains of 9.6%, the broad-based Equity REIT ETFs declined by 1.2% today. Mortgage REITs retreated by 2.9% today but finished the month higher by 18.2%. Consistent with the themes of the prior three Monday mornings, investors woke up to positive vaccine news with Moderna (MRNA) announcing that it would file for authorization for its promising vaccine while Pfizer (PFE) has begun to deliver vaccines to distributors.

Following two weeks of stellar housing data, record-low inventory levels and rising home values may be starting to emerge as constraints for potential homebuyers, but present opportunities for Single-Family Rental REITs. Real Estate Daily Recap U.S. equity markets retreated Monday on the final day of a historically strong November, a month that saw investors rotate back into pandemic-sensitive equity sectors following a series of advancements in vaccine development. Ending the month with gains of 11.1%, the S&P 500 ETF ( SPY ) retreated by 0.4% today while the Dow Jones Industrial Average ( DIA ) dipped 272 points but finished the month higher by 12.1%.

Closing out the month with gains of 9.6%, the Equity REIT ETF ( VNQ ) declined by 1.2% today with 15 of 18 property sectors in negative territory. Mortgage REITs ( REM ) finished lower by 2.9% today but finished the month with gains of 18.2%. As discussed in our Real Estate Weekly Outlook , one of the themes of November's equity market rebound has been the revival of ...