Real Estate Daily Recap: REITs and Homebuilders Climb Led By Real Estate Tech
REITs continued their strong performance to close out the week. The REIT ETFs (VNQ and IYR) climbed 0.5% on the day, led by the single family rental, hotel, and cell tower sectors. The S&P 500, meanwhile, finished the day higher by 1.1% as the 10-Year yield climbed one basis point to 2.67%.
The homebuilder ETFs (XHB and ITB) finished the day higher by roughly 0.5%. Within the Hoya Capital Housing 100 Index, the Home Improvement Retail and Real Estate Technology sectors led the way with Redfin (RDFN), Radian (RDN) and Sleep Number (SNBR) leading the way.