Keepin' It Real  

Economics, Housing, & Commercial Real Estate Analysis

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  • Alex Pettee, CFA

Daily Recap: Strong Day For Real Estate After Goldilocks Jobs Report

  • US equity markets stumbled into the close, retreating from record-highs despite a 'Goldilocks' jobs report that had initially sent the Dow Jones Industrial Average above 29,000 for the first time.

  • The S&P 500 gained declined by 0.3% and the Nasdaq gave back 0.3% while the 10-Year Treasury Yield finished lower by 3 basis points to close at 1.83%.

  • The BLS employment report this morning showed that job growth was slightly weaker than expected in December while wage gains cooled to the slowest rate of growth since July 2018.

  • The 'Goldilocks' jobs report was good news for real estate and other yield-senstive equity sectors. The broad-based Real Estate ETFs delivered strong outperformance, gaining nearly 1% on the day.

  • Homebuilders were the standout this week as the housing market has started 2020 exactly where it left off last year, as we'll discuss further in our Real Estate Weekly Outlook published tomorrow morning.

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Hoya Capital Real Estate, LLC

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Hoya Capital Real Estate ("Hoya Capital") is an SEC-registered investment advisory firm that provides investment management services to ETFs, individuals, and institutions, focusing on portfolio and index management of publicly traded securities in the real estate industry. It is not possible to invest directly in an index. Index performance cited in this website or commentary does not reflect the performance of any fund or other account managed or serviced by Hoya Capital Real Estate. Nothing on this site nor any published commentary by Hoya Capital is intended to be investment, tax, or legal advice or an offer to buy or sell securities. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy and should not be considered a complete discussion of all factors and risks. Data quoted represents past performance, which is no guarantee of future results. Investing involves risk. Loss of principal is possible. Investments in companies involved in the real estate and housing industries involve unique risks, as do investments in ETFs, mutual funds, and other securities. Hoya Capital has no business relationship with any company discussed/mentioned. Hoya Capital never receives compensation from any company discussed/mentioned. Hoya Capital, its affiliate, and/or its clients and/or its employees may hold positions in securities or funds discussed on this website and our published commentary. A complete list of holdings and other important disclosures and definitions are available by clicking the links below.

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