IYR

Mortgage Pain Has Not Peaked Yet

Despite spring market optimism, US Home sales in March posted their most significant decline in more than a year. In Canada, where fixed mortgage rates are back above 5%, March home sales and prices were mostly unchanged month-over-month. Oxford Economics forecasts that mortgage payments will increase by another 6% to $156 billion by the end of 2024 in Canada. The hardest hit will be low to medium-income households.

iShares U.S. Real Estate ETF Experiences Big Outflow

Weekly Report: what happened at IYR last week (0415-0419)?

Real estate stocks continue on downward trajectory as market's April pullback intensifies

Real estate stocks continue on downward trajectory as market's April pullback intensifies. U.S. Existing home sales slid 4.3% in March. Economic activity expanded slightly, the Federal Reserve said in its April Beige Book report. Investors dial back interest rate cut expectations for real estate.

Home Sales Clobbered By Mortgage Rates. New Listings And Active Listings Surge. Most Price Reductions For Any March In Years

REIT Earnings Preview: Delay And Pray

U.S. Housing Market Struggles Continue with Sales Drop and Price Increases

Existing home sales in the US fell by 4.3% in March to a seasonally adjusted annual rate of 4.19 million units. The drop in sales is attributed to rising interest rates and high home prices. The housing market is facing a challenge of affordability. The median existing home price rose to a record high of $393,500 in March.

The State Of REITs: April 2024 Edition