Real Estate Daily Recap: Another Record-Setting Day for REITs and Housing
After surging by 1.7% yesterday, the Hoya Capital US REIT Index finished the day higher by another 1.3%, rallying after weaker-than-expected employment data from the ADP sent bond yields lower. The net lease, storage, and mall REIT sectors were the relative outperformers while the office, single family rental, and data center REIT sectors were the relative laggards. The S&P 500 finished up by 0.8%, setting a new all-time record high, while the Nasdaq finished higher by 0.8%. The 10-Year yield finished the day lower by 2 basis points, closing near the lowest level in more than 3 years.
The Hoya Capital US Housing Index finished the day higher by 0.9%, setting a new all-time record high, with all eight of the eight housing sectors finishing in positive territory. The Housing Industry was led by the Residential REIT and Homebuilding Products & Materials sectors. Trex Companies, TJX Companies, Public Storage, Ventas, Corelogic, and RealPage each finished higher by at least 2%.
For an in-depth analysis of all real estate sectors, be sure to check out all of our quarterly reports: Homebuilders, Apartments, Student Housing, Single Family Rentals, Manufactured Housing, Cell Towers, Healthcare, Industrial, Data Center, Malls, Net Lease, Apartments, Shopping Centers, Hotels, Office, Storage, and Real Estate Crowdfunding.
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