While the rest of the markets pulling back this week, real estate continues to grow. Real estate exchange-traded funds reached new highs this week. Are home prices starting to decline because of two years of interest rate hikes? You’d never know it by looking at these REIT ETFs.
Home sales have moderated, but demand for commercial real estate has increased. A continuing improvement in the U.S. economy and low unemployment helps drive growth. New supply is restrained and vacancies are declining.
A look at IYRs 200-day moving average shows the steady increase of REITs over the past months.
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