Another Strong Week For REITs And Homebuilders [Daily Recap]
- U.S. equity markets finished mostly higher on Friday, capping off a week of robust gains as states and countries accelerate economic reopenings while new cases of coronavirus continue to decline.
- Finishing the week with gains of 3.0%, the S&P 500 gained 0.5% on the day while the Dow Jones finished roughly flat on the day but gained 3.8% this week.
- After gaining 7% last week, the broad-based Equity REIT ETFs gained another 5% this week despite today's 1.4% decline, while Mortgage REITs gave back 2.9% but ended the week flat.
- This week's gains were led by a rebound in the most beaten-down property sectors amid encouraging signs of renewed demand in the early stages of economic reopening.
- We'll have a full recap of this week's notable news and events in our Real Estate Weekly Outlook report published tomorrow morning.
Real Estate Daily Recap
U.S. equity markets finished mostly higher on Friday, capping off a week of robust gains as states and countries continue to accelerate economic reopenings as new cases of coronavirus continue to decline. Finishing the week with gains of roughly 3.0%, the S&P 500 ETF (SPY) gained 0.5% on the day while the Dow Jones Industrial Average (DIA) finished roughly flat on the day but gained nearly 4% this week. After gaining 7% last week, the broad-based Equity REIT ETFs gained another 5% this week despite today's 1.4% decline, led by a rebound in the most beaten-down property sectors amid encouraging signs of renewed demand in the early stages of economic reopenings while Mortgage REITs gave back 2.9% but ended the week flat.
