Keepin' It Real 

Economics, Housing, & Commercial Real Estate Analysis

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  • Alex Pettee, CFA

Real Estate Daily Recap: REITs End Lower, Housing Ends Higher Following Tariff Truce With Mexico

Coming off a 2.5% gain last week, the Hoya Capital US REIT Index ended the day lower by 0.3% as US stocks rallied on news that the US and Mexico came to an agreement to avoid the threatened 5% tariffs on imported goods. The hotel, data center, and single family rental REIT sectors led the way, while the mall, net lease, and healthcare REIT sectors lagged. Following a 4.5% surge last week, the S&P 500 gained another 0.5% while the Nasdaq climbed 1.2%. At 2.14%, the 10-Year yield finished the day higher by 6 basis points after hitting the lowest level in 21 months last week.

The Hoya Capital US Housing Index finished the day higher by 0.3% with four of the eight sectors in positive territory. The Home Furnishings and Homebuilding Products sector were the outperformers on the day.Redfin, Aarons, At Home, Restoration Hardware, and La-Z-Boy each gained more than 3.5% on the day.

The economic calendar turns to inflation and retail data this week. Inflationary pressure has remained muted since late 2018 but has begun to creep higher in recent months as oil prices rebounded from their lows last December. PPI is released on Tuesday while CPI comes out on Wednesday. Retail data, released on Friday, has softened in recent months after a relative resurgence throughout 2018. JOLTs data on Monday will round out this week’s major economic releases.

Disclosure: An investor cannot invest directly in an index and index performance does not reflect the deduction of any fees, expenses or taxes. The information presented does not reflect the performance of any fund or other account managed or serviced by Hoya Capital Real Estate. We consider the information in this presentation to be accurate, but we do not represent that it is complete. It should not be relied upon as the sole source of suitability for investment. Please consult with your investment, tax or legal adviser regarding your individual circumstances before investing. Visit our website for a complete definition of all indexes cited in this report. Investing involves risk and loss of principal is possible.

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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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