Real Estate Daily Recap: REITs Lower, Housing Flat on Busy Week of Housing Data
The Hoya Capital US REIT Index finished the day lower by 0.5%, led to the upside by the single family rental REIT sectors. The shopping center, industrial, and cell tower REIT sectors were the relative underperformers on the day. The S&P 500 finished the day higher by 0.1% and is within about 1% of all-time record highs. The Nasdaq finished higher by less than 0.1%. At 2.55%, the 10-Year Yield finished the day lower by 1 basis point and remains roughly 70 basis points lower than it's peak last October.
The Hoya Capital US Housing Index finished the day lower by 0.2%, led to the upside by the Home Improvement Retail and Home Buildingg Products sectors. The strongest performers on the day were Corelogic (CLGX), Costco (COST), Armstrong (AWI), Target (TGT), and Louisiana-Pacific (LPX).
The Home Furnishings and Mortgage Lending/Services sectors were the relative underperformers on the day. Overstock (OSTK), Bed Bath (BBBY), Whirlpool (WHR), M&T Bank (MTB), and Regions Financial (RF) were among the laggards on the day.
It's a busy week for housing data with Homebuilder Sentiment data released tomorrow and Housing Starts and Permits released on Friday.
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