"If you invest in REITs, you’re almost never investing in home price appreciation,” said Dan Egan, vice president of behavioral finance and investing at Betterment. Although 2020 was a boom year for housing prices, the REIT sector fell 2% in 2020, while the S&P 500 was up 16%.
Source: https://www.forbes.com/sites/elenabotella/2021/07/23/if-you-cant-buy-a-home-should-you-still-invest-in-real-estate/