Housing stocks for homebuilders are taking a hit, while apartment REITs are finally starting to rise again amid a market rally. It was sparked by Pfizer’s (PFE) Nov. 9 announcement that early trial data revealed its coronavirus vaccine to be over 90% effective.
Homebuilder Stocks Impact
Homebuilders across America have benefitted significantly from COVID-19’s stay-at-home culture. Throughout the pandemic, more people have looked for larger, high-tech houses in the suburbs while working and schooling from home. However, an effective COVID-19 vaccine could reverse this notion.
Housing stocks of the biggest builders, including DR Horton (DHI), Lennar (LEN), Pulte (PHM) and luxury builder Toll Brothers (TOL) were all down Monday by midday. The iShares U.S. Homebuilding ETF (ITB) als…