Real Estate Daily Recap: REITs & Homebuilders Finish Modestly Higher As CPI Data Comes in Cool
Coming off a 0.2% gain yesterday, the Hoya Capital US REIT Index ended the day higher by 0.3%, led by the net lease, cell tower, and industrial REIT sectors. The hotel, apartment, and mall REIT sectors were the relative laggards. CPI data came in cooler than expected this morning as inflationary pressures remain muted. Following a 0.1% decline yesterday, the S&P 500 finished lower by 0.2% while the Nasdaq declined 0.6%. At 2.13%, the 10-Year yield finished the day lower by 1 basis point after hitting the lowest level in 21 months last week.
The Hoya Capital US Housing Index finished the day flat with five of the eight sectors in positive territory. The Home Furnishing and Home Improvement Retail sector were the outperformers on the day. Louisiana-Pacific, Weyerhaeuser, Herman Miller, Aarons, and Restoration Hardware were the winners on the day.
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