RESI Stock Recent News

The industry closed out November maintaining its pace of growth, rolling out another dozen new ETFs during the week. The launches included products from Goldman Sachs, Innovator, SP Funds, Counterpoint, YieldMax, Aztlan, and ETF newcomer Macquarie.

The Consumer Price Index showed prices rose 0% over last month and 3.2% over the prior year in October, a deceleration from September's 0.4% monthly increase and 3.7% annual gain in prices.

U.S. consumer inflation rate took a dip to 4.0% in May 2023, marking the lowest since March 2021 and slightly below market expectations of 4.1%.

The REIT sector fell again in March with a -6.11% total return. Large cap (-1.99%) and mid cap (-4.56%) REITs saw modestly negative total returns in March, while small caps (-6.76%) and micro caps (-15.50%) were deeper in the red.

The U.S. real estate sector has been under pressure for quite some time now. However, a few factors may help the sector to record a rebound in the medium term.

Though U.S. inflation slowed in February, these sectors witnessed price gains. The associated ETFs may thus gain ahead.

The annual inflation rate in the United States decelerated slightly to 6.4% in January, hotter-than-expected rate of 6.2%.

These funds have continued climbing despite indications of a slump as investors battle supply constraints.

Pressured by the broader housing cooldown, Apartment REITs have been among the weaker-performing property sectors over the past quarter despite achieving record-setting rent growth throughout the summer. While the era of 20% rent increases on new leases is over, there remains significant “embedded” rent growth in below-market renewals that should power impressive FFO growth into 2023.

Last year both commodities and real estate acted as a good inflation hedge. This year commodities kept performing well, but real estate didn't.