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  • Alex Pettee, CFA

Real Estate Daily Recap: Strong Start to the Week for REITs and Builders

The REIT ETFs (VNQ and IYR) started the week on the right foot, climbing 1.3% on the day, led by the storage, data center, and healthcare REIT sectors. The S&P 500 climbed 1.5% on the day while the Nasdaq climbed by more ethan 2% after snapping it's 10-week winning streak last week. At 2.64%, the 10-Year Yield remains within shouting distance of 52-week lows, but climbed 2 basis points on the day.

The homebuilder ETFs (XHB and ITB) climbed roughly 2% on the day, led by Taylor Morrision (TMHC) and TRI Pointe (TPH) which each climbed more than 2.5%. Within the Hoya Capital Housing 100 Index, the homebuilding products and materials sector and real estate technology and brokerage sectors were among the top-performing sectors.

Eagle Materials (EXP), Leggett and Platt (PEG), and Whirlpool were among the laggards on the day.

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Hoya Capital Research & Index Innovations is an affiliated index provider and research firm that builds custom indexes tracking U.S. commercial and residential real estate sectors, including indexes tracked by exchange-traded funds (ETFs). 

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