As of Nov. 24, 2023, five stocks in the real estate sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro.

Here’s the latest list of major overbought players in this sector.

Forestar Group Inc. (NYSE:FOR)

• Forestar Group reported better-than-expected fourth-quarter financial results. Daniel Bartok, CEO, said, "The Forestar team finished the year strong in the fourth quarter, highlighted by a 44% increase in pre-tax income to $95.4 million on revenues of $549.7 million, with a pre-tax profit margin of 17.4%." The company’s stock has a 52-week high of $32.70. .
• RSI Value: 75.05
• FOR Price Action: Shares of Forestar Group rose 2.3% to close at $32.46 on Wednesday.

Newmark Group, Inc. (NASDAQ:NMRK)

• Newmark Group reported better-than-expected third-quarter results and issued strong guidance. The company’s stock has a 52-week high of $9.36.
• RSI Value: 71.46
• NMRK Price Action: Shares of Newmark Group gained 1.7% to close at $7.92 on Wednesday.

CBL & Associates Properties, Inc. (NYSE:CBL)

Farmland Partners Inc. (NYSE:FPI)

Spirit Realty Capital, Inc. (NYSE:SRC)

• Spirit Realty reported better-than-expected third-quarter sales results. The company has a 52-week high of $44.65.
• RSI Value: 71.95
• SRC Price Action: Shares of Spirit Realty Capital fell 0.5% to close at $40.57 on Wednesday.

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