Why the REA Group (ASX:REA) share price just hit a new record high

The REA Group Limited (ASX: REA) share price has continued its positive run on Wednesday.

In fact, at one stage the property listings company’s shares were up almost 3% to a new record high of $149.47.

When the REA Group share price reached that level, it meant it was up an impressive 42% since the start of the year.

Why is the REA Group share price at a record high?

There have been a couple of catalysts for the outperformance of the REA Group share price in 2020.

One of those was the company’s solid performance during the pandemic. Despite the disruption caused by COVID-19, REA Group delivered a relatively robust FY 2020 result and has built on this in FY 2021.

For example, in FY 2020, REA Group experienced a sizeable 12%…