Keepin' It Real  

Economics, Housing, & Commercial Real Estate Analysis

apartment REITs
homebuilders ETFs
single family rental REITs
manufactured housing REITs
student housing REITs
data center REITs
Cell tower REITs
net lease REITs
industrial REITs
storage REITs
office REITs
mall REITs
REIT Preferreds and Bonds
hotel REITs
Timber REITs
healthcare REITs
REIT ETFs
Billboard REITs
shopping center REIT
High-Yield Real Estate ETFs
Real Estate CEFs
Casino REITs
cannabis REITs
prison REITs
mortgage REITs
real estate crowdfunding
REIT Portfolio Strategy
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  • Alex Pettee, CFA

Housing Stays Hot | Rent Collection Improves | REITs Flat

Daily Recap

  • U.S. equity markets finished broadly higher on Wednesday as strong economic data - particularly in the critical U.S. housing sector - continues to counterbalance investor concern over the coronavirus pandemic.

  • After declining by 1.0% on Tuesday, the S&P 500 finished higher by 0.8% today while the Dow Jones Industrial Average gained 177 points following yesterday's 397 point decline.

  • After leading the gains last week, however, real estate equities have generally lagged this week. Equity REIT ETFs finished lower by 0.1% today with 12 of 18 property in negative-territory.

  • Housing Stays Hot: Mortgage applications to purchase a home are now higher by 33% from the same time last year, holding on to the "V-shaped" recovery pattern exhibited over the last three months.

  • Homebuilders were a bright-spot today, led by Taylor Morrison, which surged nearly 17% today after reporting record June sales fueled by favorable millennial-led demographics and record low mortgage rates.

To read the full report, click here to visit Seeking Alpha!

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