Why Real Estate Stocks Popped This Week
Real estate stocks were moving higher this week, especially ones hit hard by the post-pandemic sell-off in the sector as mortgage rates spiked, home prices fell, and the once red-hot housing market cooled off.
Among this week's winners were Offerpad (NYSE: OPAD), Compass (NYSE: COMP), and SmartRent (NYSE: SMRT). As of the market's close on Thursday, Offerpad had gained 15.4%, Compass was up 16.6%, and SmartRent had risen 11.3%, according to data from S&P Global Market Intelligence.
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Source Fool.com
