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Real estate stocks hold firm during rough week on Wall Street

by Patrick Regan

Some of the largest publicly traded real estate companies weathered a difficult week on Wall Street with stock fluctuations that were less dramatic than the market as a whole.

Stock prices for some of the largest U.S. real estate firms — Anywhere Real Estate Inc., RE/MAX and eXp World Holdings — were largely flat for the week. Meanwhile, the Dow Jones Industrial Average and Nasdaq Composite both lost about 4% of their value from Monday March 10 through Thursday.

A Friday rally enabled both indexes to reclaim some, but not all, of their losses during the week. The Dow finished the week down more than 1,000 points, or 2.4%. The Nasdaq lost 0.48% of its value by the end of trading Friday.

Douglas Elliman navigated those headwinds and saw its stock price increase nearly 10% during the week.  Compass stock rose by about 4% by the close of business Friday.

The week’s biggest real estate winner was Redfin Corp., which saw its stock surge more than 80% from $5.88 a share on March 7 to $10.70 per share one week later. The jump came after it was announced Monday that Rocket is making a $1.75 billion all-stock bid to acquire Redfin. Rocket Companies Inc.’s stock value saw more than 7% growth for the week. 

Homebuilders and several sectors of the broader economy await the effects of tariffs both proposed and enacted by the Trump Administration. The threat of tariffs — some delayed, some not — created uncertainty in the markets, analysts noted.

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