USA Pending Home Sales (MoM) For April 0.0% Vs 0.5% Est.; -5.2% Prior
Portfolio Pulse from Happy Mohamed
USA pending home sales for April remained unchanged at 0.0%, missing the estimated 0.5% increase and showing a significant improvement from the -5.2% decline in March.
May 25, 2023 | 2:01 pm
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NEUTRAL IMPACT
The flat pending home sales data for April may have a neutral impact on the SPY ETF, as it shows improvement from the previous month but misses the estimated increase.
The flat pending home sales data for April indicates a stabilization in the housing market, which could be seen as a positive sign for the overall economy. However, the data missed the estimated 0.5% increase, which may limit any potential gains for the SPY ETF. As a result, the impact on the SPY ETF is likely to be neutral in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50