Real Estate Stocks Surge on Hopes for a Vaccine

Monday’s announcement of promising COVID-19 vaccine test results prompted investors to get bullish on several real estate stocks, notably within sectors of the market that have faltered during the pandemic. The Wall Street Journal reported as part of Monday’s vaccine news: “The share prices of some of the country’s biggest property owners were up more than 20% Monday compared with a roughly 3% increase in the Dow Jones Industrial Average.”
Office owners have faced high vacancy rates during the pandemic. Hotel and retail owners also have been among the hardest-hit real estate sectors during the pandemic as consumers avoid public venues. But after news broke of the positive vaccine results from BioNTech SE and Pfizer Inc., hotels and retailers saw an increase in the stock market.
Continue…https://magazine.realtor/daily-news/2020/11/10/real-estate-stocks-surge-on-hopes-for-a-vaccine