Real Estate ETFs See Longest Inflow Streak Since March 2022 As Investors Jump On The Rate Cut Bandwagon
Real Estate ETFs See Longest Inflow Streak Since March 2022 As Investors Jump On The Rate Cut Bandwagon
Bank of America reports that the bank's private clients flocked to REIT exchange-traded funds (ETFs) in August, driving the highest weekly inflow since March 2024, with $0.8 billion pouring into these funds, and the longest four-week streak since March 2022.All the stars seem to be aligned for real estate stocks, setting the stage for a potential structural rebound after years of lackluster performance.
房地產股似乎處於一個潛在的結構性反彈的最佳時機，經歷了多年平庸表現之後。
As the economy shows robust growth and inflation continues its downward trend, investors are increasingly optimistic about the Federal Reserve's anticipated interest rate cuts, sparking renewed enthusiasm for real estate investments.
隨着經濟顯示出強勁增長，通脹繼續下降，投資者對聯儲局預計的減息舉措越來越樂觀，重燃對房地產投資的熱情。
Investors have channeled significant amount of capital into real estate investment trusts (REITs) in August, speculating on the much-anticipated decline borrowing costs as a factor to revitalize the sector.
投資者在8月份大量注入房地產投資信託（REITs），猜測借貸成本的預期下降將促使該行業復甦。
Bank of America reports that the bank's private clients flocked to REIT exchange-traded funds (ETFs) in August, driving the highest weekly inflow since March 2024, with $0.8 billion pouring into these funds, and the longest four-week streak since March 2022.
美國銀行報告稱，該銀行的私人客戶在8月份湧向REITs交易所交易基金（ETFs），引發了自2024年3月以來最高的每週資金流入，流入這些基金的資金達到了8億美元，連續四周以來的最長時間。
The top five real estate ETFs have collectively attracted over $2.4 billion last month alone, according to data from TradingView. This amount represents a staggering amount that represents two-thirds of their total inflows for the past year.
根據TradingView的數據，上個月前五個房地產ETF共吸引了超過24億美元的資金，這一數字佔去年總流入資金的三分之二。
Top 5 REIT ETFs Attracted Over $2.4 Billion in August
8月，前五個REIT ETF吸引了24億美元以上
Here's a breakdown of the leading ETFs by inflows:
以下是根據資金流入量排名的主要ETF的詳細情況：
| Fund Name | 1-Month Inflows (USD) | 1-Year Inflows (USD) |
|---|---|---|
| iShares U.S. Real Estate ETF | $853.814 million | $1.328 billion |
| Vanguard Real Estate ETF | $650.912 million | $42.887 million |
| Real Estate Select Sector SPDR Fund | $600.587 million | $2.105 billion |
| SPDR DJ Wilshire REIT ETF | $168.303 million | $129.095 million |
| iShares Residential and Multisector REIT ETF (NYSE:REZ) | $136.758 million | $92.397 million |
| 基金名稱 | 1個月資金流入（美元指數） | 1年資金流入（美元指數） |
|---|---|---|
| iShares U.S. Real Estate ETF | 85381.4萬美元 | 13.28億美元 |
| 不動產信託指數etf-Vanguard | 65091.2萬美元 | 4288.7萬美元 |
| 房地產選擇板塊的SPDR基金 | 60058.7萬美元 | 210.5億美元 |
| spdr道瓊斯reit etf | 16830.3萬美元 | 12909.5萬美元 |
| iShares住宅與多板塊reit etf (紐交所: REZ) | 13675.8萬美元 | 9239.7萬美元 |
In terms of market performance, the Real Estate Select Sector SPDR Fund (NYSE:XLRE) surged over 4% in August, making it the second-best performing sector behind consumer staples.
就市場表現而言，房地產選擇板塊spdr基金(紐交所:XLRE)在8月份大漲超過4%，成爲僅次於消費品的第二表現最好的板塊。
Year-to-date, the real estate sector has lagged behind the broader market, trailing the SPDR S&P 500 ETF Trust (NYSE:SPY) by 10 percentage points.
截至目前爲止，房地產板塊落後於整體市場，比標普500etf信託基金(紐交所:SPY)落後了10個百分點。
Notably, in the past two months—coinciding with increased expectations for rate cuts in September—real estate stocks have posted a remarkable 14% gain, significantly outpacing the S&P 500's modest 3% increase during the same period.
值得注意的是，在過去的兩個月，隨着人們對9月份減息預期的增加，房地產股票取得了顯著的14%收益，大大超過了同期標普500僅有的3%增長。
Chart: Real Estate Stocks Outperformed Broader Market In Recent Months
圖表：近幾個月房地產股表現優於整體市場
Earnings for real estate companies are also beginning to exceed expectations. "At the sector level, the Health Care (86%), Real Estate (84%), and Industrials (82%) sectors had the highest percentages of companies reporting earnings above estimates," highlighted John Butters, senior earnings analyst at FactSet.
房地產公司的收益也開始超出預期。FactSet的高級收益分析師約翰·巴特斯指出：「在板塊層面上，醫療保健(86%)、房地產(84%)和工業(82%)板塊的公司報告的收益高於預期的比例最高。」
On the data front, there's more good news for U.S. homebuyers as mortgage rates continue their downward trajectory. For the week ending August 23, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances (up to $766,550) dipped to 6.44% from 6.50%, marking the lowest level since April 2023 and the fourth consecutive week of declines.
就數據方面來說，對美國購房者來說有更多好消息，因爲抵押貸款利率繼續下降。截至8月23日的一週內，符合貸款額度（最高爲766,550美元）的30年期固定利率抵押貸款的平均合同利率從6.50%下降到6.44%，創下2023年4月以來的最低水平，並連續第四周下降。
Recent economic data has also dispelled fears of an imminent recession. The U.S. economy grew at an annualized rate of 3% in the second quarter, surpassing earlier estimates of 2.8% and more than doubling the 1.4% growth recorded in the first quarter. This marks the eighth consecutive quarter of expansion, driven by a significant upward revision in consumer spending.
最近的經濟數據還消除了對即將到來的衰退的擔憂。美國經濟在第二季度以年率3%的增長率增長，超過了先前預估的2.8%，是第一季度記錄的1.4%增長的兩倍多。這標誌着第八個連續擴張季度，主要受消費支出的大幅上調推動。
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