• U.S. equity markets climbed to fresh record highs on the Thanksgiving-shortened week as strong housing data, positive vaccine developments, and "market-friendly" Cabinet picks offset ongoing COVID concerns.
• Pushing its November gains to over 11%, the S&P 500 rallied another 2.3% this past week led by the economically-sensitive equity sectors amid a continuation of the vaccine-driven reopening trade.
• Real estate equities delivered a mixed week, however, as strong performance from the beaten-down COVID-sensitive property sectors were offset by weakness from the "stay-at-home" winners.
• New Home Sales in October smashed expectations, surging by 41.5% from last year amid a continuation of the widely-unexpected "housing boom" that has exhibited few signs of cooling.
• Home prices are rising at the fastest rate in over a decade as record-setting demand for single-family housing clashes with record-low inventory levels amid a historic and worsening housing shortage.

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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.