Industry News

Real estate stocks take deep dive

Inman Index: Wall Street hammers home builders, mortgage cos.
Published on Jul 2, 2007

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by CareyBot

What May gaveth, June tookth away.

After a promising uptick in May, real estate stocks retreated with a vengeance in June as eight of the 10 issues that comprise the hypothetical Inman Index moved lower and the Index overall declined more than 10 percent, a significantly worse performance than the stock market overall.

Hardest hit were shares of Fidelity National Financial, which dropped from $28.16 on June 1 to $23.70 on June 29, a decline of almost 16 percent and a reversal of fortune compared with earlier this year ...

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