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  • Alex Pettee, CFA

Real Estate Weekly: REITs And Homebuilders Power Stocks To Best Quarter In A Decade

  • Click to Read Full Article on Seeking Alpha!

  • Real estate equities helped to power the US stock market to its best quarter in nearly a decade. REITs and homebuilders each ended the quarter up by more than 15%.

  • The revival has been driven by receding interest rates and signs of solid macroeconomic and improving housing-related data. Both the 10-year yield and 30-year mortgage rate remain near 14-month lows.

  • The rally continued this week with REITs adding 1% and homebuilders jumping nearly 3%. Solid results from Lennar and KB Home confirmed recent optimism around the housing market.

  • The trifecta of housing data - new home sales, housing starts, and home prices - was released this week. New home sales smashed through expectations, but starts and home prices remain soft.

  • For the single-family housing market, 2019 is so far looking a lot like 2015, when a sustained pullback in mortgage rates reignited the previously stumbling sector.

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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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