Goldman Sachs, the Blackstone Group and several other notable investors have turned bullish on the U.S. housing market, the Wall Street Journal reported, buying up shares of home building companies, like Pulte Group, Beazer Homes and Hovnanian Enterprises. Those stocks are up 30 percent since the end of the third quarter, according to Dow Jones, far outpacing the 10.5 percent increase recorded by the Standard & Poor’s 500.

In a recent report, Goldman said it expects home prices to decline 3 percent next year, before gaining 30 percent — not taking inflation into account — through 2022… [more]

Real estate stocks are poised to end the year with gains that are twice as large as the broader stock market, marking the second consecutive year in which REITs outperformed the major stock indexes, the Wall Street Journal reported. REITs, on the Dow Jones All REIT index, were up 27 percent as of Tuesday’s close, compared to the Dow Jones industrial average, which was up 11 percent, and Standard & Poor’s 500 index, up 12.86 percent. “The REIT yields are very attractive compared to anything else in the market,” said Brad Case, vice president of research and industry information for the National Association of Real Estate Investment Trusts. … [more]

The number of media tenants in Lower Manhattan is on the rise, according to the Alliance for Downtown New York. In all, media tenants, including Broadcast Music, Niche Media and GDS Publishing, occupy upwards of 1.15 million square feet of office space in the neighborhood. Although “financial services remain [the area's] signature industry,” said Elizabeth Berger, president of the Alliance for Downtown New York, the area is attracting a reputation as a “media central,” she said. TRD… [more]

Stocks rose today after unexpected increases in pending home sales and construction spending. The Dow Jones jumped about 150 points and stocks overall rose about 2 percent. Pending home sales rose 3.2 percent for the second straight month, according to the National Association of Realtors. Construction spending rose 0.3 percent in March after a five-month drop. It remains to be seen whether the market will continue rising once the April employment report comes out Friday.