Real Estate Daily Recap: REITs Gain 0.6%, Homebuilders Climb 1.2% As Real Estate Technology Sector S
The REIT ETFs (VNQ and IYR) climbed by 0.6% on the day, eeking out a weekly gain for the seventh consective week. The hotel, data center, and storage REIT sectors led the way while the single family rental sector lagged following earnings from American Homes (AMH). The S&P 500 finished the day higher by 0.6%, pushing it's weekly gain to roughly 0.5%. The 10-year yield retreated 3 basis points on the day.
The homebuilder ETFs (XHB and ITB) ralled more than 1% on the day, leading a strong day across the broader housing sector. The real estate technology sector jumped following strong results from Zillow (Z) while the home furnishings sector also performed well after strong earnings from Wayfair (W).