T
he real estate market's rollercoaster ride continued as President Trump's tariffs sparked a frenzy of price fluctuations. A brief reprieve came when a misleading social media post hinted at a tariff pause, sending stocks soaring before plummeting back down. However, on Wednesday afternoon, Trump officially announced a 90-day tariff freeze, reducing rates to 10% for most countries to facilitate trade negotiations.

    While offering relief to many trading partners, Trump escalated tensions with China by imposing 125% tariffs in response to the country's retaliatory 84% rate. The S&P 500 responded with its largest single-day gain in five years, erasing recent losses and wiping out nearly a decade of declines. Real estate stocks followed suit, with Compass rising 4.5%, Douglas Elliman up 7.8%, and Anywhere Real Estate increasing by 8.2%.

    Real estate investment trusts (REITs) saw even more significant gains, with Vornado surging over 10% and Hudson Pacific Properties nearly doubling to 13%. Commercial brokerages Jones Lang LaSalle and Newmark also rose, but the market's overall trend remains uncertain. Despite Wednesday's rebound, many stocks are still down over the past five days, with Hudson Pacific Properties down over 15%.

    Rocket Companies continued its downward slide due to rising 10-year treasury yields, threatening its mortgage origination business if the metric remains elevated. Realtor.com chief economist Danielle Hale noted that uncertainty will persist, weighing on consumers and economic growth. "A pause on the worst of the announcement is welcome," Hale said, "but given the recent changes, uncertainty remains high."