FRI News and Press, First Trust S&P REIT Index Fund From 11/02/22

Summary Canadian monthly home sales in September were -32% year-over-year and 12% below the pre-pandemic 10-year average for September. Many who bought properties during the 2020-2022 frenzy are now underwater in terms of resale value. On the upside, much lower shelter and tra...

Summary Since March 2022, the Federal Reserve has raised interest rates by 300 basis points. Higher rates are challenging both homebuyers and sellers. There are growing signs that the Federal Reserve’s rate policies are starting to bite into the U.S. housing market. ...

Summary U.S. equity markets extended a two-week rebound since hitting two-year lows earlier this month as a mixed slate of corporate earnings reports and lukewarm economic data revived "soft landing" hopes. Posting its strongest two-week advance since the initial COVID vaccine rol...

Summary According to the National Association of Realtors, "Pending home sales trailed off for the fourth consecutive month in September." The index for the most recent month is currently 40% below its all-time high. The population-adjusted index is 44% off its high. A close l...

Summary The pandemic caused a surge in household formation, driven in part by remote work and low-interest rates. This is likely to result in an extended period of weak growth in the number of households, with a flow-through impact on the rest of the economy. The housing secto...

Summary Sales of new homes in the U.S. fell in September 2022. July 2022 still ranks as the peak month for the market capitalization of new homes during the Biden administration. The new home industry already hasn't registered any sustained growth since December 2020. ...

Summary Employment for nonresidential construction is up, for both actual building activity as well as specialty trades. Warehouses have been particularly strong thanks to increased online sales. Manufacturing construction has grown substantially in the past year, up 22%. ...

Summary Sales of new single-family homes fell back in September. The median sales price of a new single-family home was $470,600. The total inventory of new single-family homes for sale rose 1.1 percent to 462,000 in September. By Robert Hughes Refi...

Summary This morning's release of the September New Home Sales from the Census Bureau came in at 603K, down 10.9% month-over-month from a revised 677K in August. The Census Bureau's mid-month population estimates show a 77% increase in the US population since 1963. Today's 30-...

Summary Healthcare REITs have lagged over the past quarter as sharply higher labor costs, a sluggish post-COVID recovery in patient volumes, and the waning of government fiscal support have pressured operators. Hospital operators have been slammed particularly hard as elective sur...