Two days and two disappointing real estate reports--on Friday, when markets were closed, March housing starts unexpectedly declined and on Monday existing home sales fell more than expected.
That sparked a decline in homebuilder stocks. And REITs also fell sharply, contributing to the underperformance of the the real-estate sector, down 1.8%.
Among homebuilders, D.R. Horton (NYSE:DHI) falls 1.3% after KBW cut the stock to market perform.
For REITs, some of the biggest losers are: Health-care REIT HCP (HCP -2.7%), triple-net REIT National Retail Properties (NNN -2%), Senior Housing Properties (SNH -2.8%), mall REIT Tanger Factory Outlet Centers (SKT -3.2%), shopping center REIT CBL (CBL -7.6%), industrial REIT Stag Industrial (STAG -2.1%), office REIT Easterly Government Properties (DEA -2%), sale/leaseback REIT Global Net Lease (GNL -0.9%), hotel REIT Chatham Lodging Trust (CLDT -2.5%), and apartment REIT Independence Realty Trust (IRT -2%).
Previously: Existing home sales fall more than estimated (April 22)
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