U.S. stocks experienced a steep decline on Monday, with the Dow Jones Industrial Average dropping 1,000 points (-2.6%), the NASDAQ Composite dropping 3.43%, and the S&P 500 down 3.0%.
Yesterday marked the worst day for U.S. stock markets in nearly two years, with tech companies including Nvidia (-6.4%), Apple (-4.8%) and Tesla (-4.2%) getting hit the hardest. For Japan, which saw its Nikkei Stock Average drop by over 12%, it was the worst day since 1987.
Real Estate Sector Stocks at Close on August 5, 2024
Stocks in the real estate sector also felt the impact of Monday’s global sell-off. The majority of publicly traded brokerages and portal stocks ended the day in the red, though this ranged from -0.47% (Compass) to -5.22% (Real).
eXp was the exception, ending the day with a slight increase (0.8%).
Homebuilder stocks also saw significant declines, ranging from -2.33% (Lennar) to -5.14% (Toll Brothers).
Real Estate Brokerage & Portal Stocks
- The Real Brokerage Inc. (REAX) 5.27 -0.29 (-5.22%)
- RE/MAX Holding, Inc. (RMAX) 8.75 -0.43 (-4.68%)
- Zillow Group, Inc. (Z) 42.83 -1.53 (-3.45%)
- CoStar Group, Inc. (CSGP) 72.70 -2.57 (-3.41%)
- Anywhere Real Estate Inc. (HOUS) 4.2000 -0.1300 (-3.0023%)
- The Real Estate Select Sector SPDR Fund (XLRE) 40.65 -1.21 (-2.89%)
- Redfin Corporation (RDFN) 7.29 -0.10 (-1.35%)
- Compass, Inc. (COMP) 4.2600 -0.0200 (-0.4673%)
- eXp World Holdings, Inc. (EXPI) 12.67 +0.10 (+0.80%)
Homebuilder Stocks
- Toll Brothers, Inc. (TOL) 128.11-6.94 (-5.14%)
- Meritage Homes Corporation (MTH) 182.01-9.30 (-4.86%)
- Tri Pointe Homes, Inc. (TPH) 41.10 -2.07 (-4.80%)
- LGI Homes, Inc (LGIH) 101.73 -4.81 (-4.51%)
- KB Home (KBH) 78.10 -2.99 (-3.69%)
- Pulte Group, Inc. (PHM) 123.36-4.31 (-3.38%)
- Lennar Corporation (LEN) 170.39 -4.07 (-2.33%)
Lower Mortgage Rates Offer Opportunities for Buyers
While stocks plummeted, those actively searching for homes could take hold of the opportunity to secure a mortgage at a lower rate. Monday’s 30-year fixed mortgage rate dropped to 6.34%, the lowest rate of 2024.
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