USA Pending Home Sales Index For August 71.8 Vs 77.3 Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Pending Home Sales Index for August was reported at 71.8, lower than the prior figure of 77.3.
September 28, 2023 | 2:00 pm
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NEGATIVE IMPACT
The lower Pending Home Sales Index could indicate a slowdown in the housing market, which may impact the broader economy and thus the SPY ETF.
The Pending Home Sales Index is a leading indicator of economic health. A lower index suggests a slowdown in the housing market, which can impact the broader economy. As SPY is a broad market ETF, it could be negatively impacted by this slowdown.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75