Real Estate Daily Recap: Strong Day For Homebuilders On Jam-Packed Week of Housing Data

The Hoya Capital US REIT Index finished the day flat, led by the storage, net lease, and healthcare REIT sectors. The data center, office, and hotel REIT sectors were the weakest performers on the day. The S&P 500 finished the day roughly flat while the Nasdaq declined 0.4%. At 2.42%, the 10-Year Yield finished the day down 3 basis points and remains near the lowest level in more than a year.

On the day, the Homebuilding sector was the strongest performer, led by KB Homes (KBH), Lennar (LEN), Taylor Morrison (TMHC), amd Meritage (MTH). Home Furnishings also delivered a solid day, led by American Woodmark (AMWD) and At Home (HOME).

The Real Estate Insurance sector was the lone sector in negative territory on the day. Potlachdeltic (PCH), Overstock (OSTK), MGIC (MTG), Weyerhaeuser (WY), and Park Hotels (PK) were among the laggards.

It’s a busy week ahead of housing data now that we’re finally back on schedule following the disruptions of the government shutdown. Starts and permits data for February are released on Tuesday, as is the Case Shiller and FHFA home price indexes. Pending home sales come out on Thursday, while new home sales for February come out on Friday.

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