Posted 4/6/2024, 4:00:53 PM
Real Estate Stocks Drop as Rate Cut Hopes Fade, S&P Posts Worst Week of 2023
- Real estate stocks and REITs declined 3-4% this week as hopes faded for a near-term rate cut
- Fed Chair Powell reiterated rates likely to remain elevated until inflation moves down
- Broader S&P 500 index posted worst week of 2023 amid rate worries
- Appeals court ruled DOJ can reopen antitrust probe into National Association of Realtors
- Office and industrial REITs were among the biggest losers, while XLRE saw $41M in net outflows