Recover And Rebuild: A Decade In Review

"Recover and Rebuild." Despite entering the decade scarred and wounded from the financial crisis, REITs and Homebuilders delivered strong and steady performance throughout the 2010s.
Limited supply and swelling demand defined the decade for most major property sectors, while other sectors saw significant upheaval - some positively and others negatively - by technological disruption.
Since the start of 2010, REITs produced a compound annual return of 12.6%, slightly shy of the 13.5% compound annual return on the S&P 500. Homebuilders gained 18.5% per year.
At the real estate sector-level, three themes dominated the 2010s: 1) The Housing Shortage, 2) The Retail Apocalypse, and 3) The Internet Revolution.
Access to capital became a critical competitive advantage for REITs during the decade, which saw the sector evolve from passive "buy-and-hold" portfolios into dynamic, growth-oriented real estate operators.

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