Real Estate Daily Recap: Homebuilders Surge As Strong Earnings Season Continues
Coming off a flat day yesterday, the Hoya Capital US REIT Index finished the day lower by 0.6% led to the upside by the residential REIT sectors but dragged down by the data center, timber, and student housing REIT sectors. The S&P 500 finished lower by 0.5% while the Nasdaq finished lower by 1.0%. Following comments from the ECB which sent European bond yields higher, the 10-Year yield rose by 2 basis points to end the day at 2.07%.
The Hoya Capital US Housing Index finished the day higher by 0.3%, led by a nearly 4% surge in the Homebuilding sector as earrings season continues to impress. Today, Meritage Homes jumped more than 18% following better-than-expected earnings while Masco also finished higher by 8%. The Real Estate Technology and Brokerage sector was the laggard on the day on disappointing results from CoreLogic.
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, Timber, and Real Estate Crowdfunding.
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