Real Estate Daily Recap: REITs Finish Higher as Data Centers Soar
Powered by strong performance in the data center sector, the REIT ETFs (VNQ and IYR) climbed 0.3% on the day. The retail REIT sectors finished the day lower after disappointing retail sales data from December. The S&P 500, meanwhile, finished the day modestly lower as the 10-Year yield retreated to 2.66%.
The homebuilder ETFs (XHB and ITB) finished the day modestly lower. Within the Hoya Capital Housing 100 Index, the Home Furnishings sector led the way with strong performance from Sleep Number (SNBR), Tempur Sealy (TPX), and Overstock.com (OSTK). Real estate technology firms RealPage (RP), CoreLogic (CLGX), and Redfin (RDFN) also had a relatively strong day, climbing nearly 1%.