Following a 1% gain last yesterday, the Hoya Capital US REIT Index finished the day higher by 0.4%, giving up strong mid-day gains following comments from the Federal Reserve that indicated that Fed would "remain patient" in comments that were interpreted as slightly more hawkish than expected. The mall and industrial REIT sectors led the gains on the day while the cell tower and data center REIT sectors lagged. At 2.51%, the 10-Year yield finished the day flat. The S&P 500 finished the day lower by 0.7%, retreating from record highs.

The Hoya Capital US Housing Index finished the day lower by 0.3% with two of the eight sectors in positive territory. The Homebuilders and Residential REIT sectors were the strongest performing segments. Taylor Morrison (TMHC), MDC Holdings (MDC), At Home (HOME), ExtraSpace (EXR), and Sleep Number (SNBR) were among the top gainers on the day.

The Home Improvement Retail and Real Estate Technology & Brokerage sectors were the relative underperforms on the day. Overstock (OSTK), Trex (TREX), and Redfin (RDFN) were among the laggards.

It'll be another jam-packed week for real estate earnings. Per Seeking Alpha, the slate tomorrow includes over a dozen REIT and housing company reports.

The busy week for housing and economic data continues with the monthly non-farm payrolls report on Friday.

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