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Hoya Capital Real Estate, LLC

Invest@HoyaCapital.com

(833) HOYA-CAP

Hoya Capital Real Estate ("Hoya Capital") is an SEC-registered investment advisory firm that provides investment management services to ETFs, individuals, and institutions, focusing on portfolio and index management of publicly traded securities in the real estate industry. Nothing on this site is intended to be investment advice or an offer to buy or sell securities. The risks of investing in real estate securities are similar to those associated with direct investments in real estate, including falling property values, lack of liquidity, limited diversification, and sensitivity to certain economic factors such as interest rate changes and market recessions. No representation or warranty is made as to the efficacy of any particular strategy or fund, or the actual returns that may be achieved. An investor cannot invest directly in an index and index performance does not reflect the deduction of any fees, expenses or taxes. Data quoted represents past performance, which is no guarantee of future results. The views and opinions in the preceding commentary are as of the date of publication and are subject to change without notice. The information presented does not reflect the performance of any fund or other account managed or serviced by Hoya Capital, and there is no guarantee that investors will experience the type of performance reflected. There is no guarantee that any historical trend illustrated herein will be repeated in the future, and there is no way to predict precisely when such a trend will begin. There is no guarantee that any trend cited in this market commentary will be realized. This material represents an assessment of the market environment at a specific point in time, should not be relied upon as investment advice, is not intended to predict or depict performance of any investment and does not constitute a recommendation or an offer for a particular security. We consider the information in this presentation to be accurate, but we do not represent that it is complete. It should not be relied upon as investment advice or as the sole source of suitability for investment. Please consult with your investment, tax or legal adviser regarding your individual circumstances before investing.

Additional Disclosure & Privacy Policy

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The Easy Way To Invest In Real Estate

Economics, Housing, & Commercial Real Estate Analysis

Keepin' It Real 

Apartment REITs
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Data Center REITs
Mall REITs
Net Lease REITs
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  • Alex Pettee, CFA

Weekly Review: Home Sales Not Yet Benefiting From Plunging Mortgage Rates

  • For the full report, click here to visit Seeking Alpha!

  • On a busy week of housing data, homebuilders stumbled as New and Existing Home sales Data fell short of estimates, still feeling the effects of the 2018 slowdown.

  • Mortgage rates receded to the lowest level in 16 months, setting the stage for a recovery in home sales data if post-recession correlations hold. Forward-looking metrics paint an optimistic picture.

  • Feeling the effects of tax reform and the cap on SALT deductions, home sales in the relatively high-tax Northeast and West Census regions continue to lag the national averages.

  • REITs finished the week higher, as they have for 17 of the 21 weeks this year. The 10-year yield dipped to the lowest level since 2017 as trade concerns linger.

  • Residential REITs led the gains this week as rent growth has reaccelerated to the strongest rate since 2016. Counterintuitively, elevated equity valuations are just what REITs need to revive growth.

For the 17th time out of the 21 weeks of 2019, the REIT Indexes (VNQ and IYR) finished the week higher, continuing to feel the tailwinds of the retreat in benchmark interest rates. The 10-Year yield dipped to the lowest level since late 2017 as trade worries and the sudden reversal in crude oil prices has dragged inflation expectations to the lowest level in nearly two years. For now, the domestic-focused equity sectors - including real estate - are enjoying the benefits of these 'Goldilocks' condition of low global inflation and US-led economic growth. The S&P 500 (SPY) finished lower for the third straight week while the Nasdaq (QQQ) tumbled nearly 3%. The multinational-heavy Dow Jones (NYSEARCA:DIA) finished lower for the fifth straight week, the worst such streak since 2017.


Hotel REITs
Single Family Rental REITs
Mobile Home REITs
Healthcare REITs
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