NAHB Housing Market Index For October 40 Vs 44 Est.; 44 Prior
Portfolio Pulse from Benzinga Newsdesk
The National Association of Home Builders (NAHB) Housing Market Index for October came in at 40, lower than the estimated 44 and the prior 44.
October 17, 2023 | 2:01 pm
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NEGATIVE IMPACT
The lower-than-expected NAHB Housing Market Index could negatively impact the SPY ETF, as it indicates a weaker housing market.
The NAHB Housing Market Index is a key indicator of the health of the housing market. A lower-than-expected index suggests a weaker housing market, which could negatively impact the broader economy and, consequently, the SPY ETF, which tracks the S&P 500.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 75