Real Estate Daily Recap: REITs & Housing Rallies on Strong Earnings, Strong Pending Home Sales Data
The Hoya Capital US REIT Index finished the day higher by 1.2% led by the hotel, student housing, and industrial REIT sectors. All REIT sectors were higher on the day, but cell tower REITs were the relative laggards. The S&P 500 and Nasdaq each finished the day higher by 0.4%. The 10-Year yield retreated another 4 basis points on the day and remains near the lowest level in more than three years.
The Hoya Capital US Housing Index finished the day higher by 1.5%, led by the Homebuilding and Real Estate Technology & Brokerage sectors following solid earnings results from KB Home yesterday afternoon and strong pending home sales data this morning. Home Furnishings component Herman Hiller surged more than 17% following earnings results yesterday afternoon. Owens Corning, Taylor Morrison, American Woodmark, Restoration Hardware, and Sleep Number each finished higher by more than 4% in the housing sector.
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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