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  • Alex Pettee, CFA

Rents Are Surging Again

  • U.S. equity markets rallied this past week as long-term inflation expectations eased following a lukewarm slate of economic data and as massive new government spending programs face diminishing public support.

  • Snapping a two-week skid, the S&P 500 rallied 1.2% on the week. Bitcoin slid as the "crypto crackdown" continued with the digital token facing amplify scrutiny from the SEC.

  • Real estate equities - particularly residential REITs and homebuilders - led the gains this week as the Equity REIT Index gained 2.0% with 18-of-19 property sectors in positive territory.

  • Driven by an intensifying housing shortage as robust demand clashes with historically low supply, data this week showed that home values and rents are both rising at historic rates.

  • Luxury homebuilder Toll Brothers jumped nearly 9% on the week after reporting stellar earnings results with order growth surging 85%. Elsewhere, three more equity REITs boosted their dividends.

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Disclosure: A complete list of holdings and Real Estate and Housing Index definitions and holdings are available at HoyaCapital.com. Hoya Capital Real Estate advises an Exchange Traded Fund listed on the NYSE. Hoya Capital is long all components in the Hoya Capital Housing 100 Index.

Additional Disclosure: It is not possible to invest directly in an index. Index performance cited in this commentary does not reflect the performance of any fund or other account managed or serviced by Hoya Capital Real Estate. Data quoted represents past performance, which is no guarantee of future results. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy.

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Hoya Capital Research & Index Innovations is an affiliated index provider and research firm that builds custom indexes tracking U.S. commercial and residential real estate sectors, including indexes tracked by exchange-traded funds (ETFs). 

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