USA Existing Home Sales For September 3.96M Vs 3.89M Est.; 4.04M Prior
Portfolio Pulse from Happy Mohamed
USA existing home sales for September were reported at 3.96 million, beating the estimated 3.89 million and slightly below the prior figure of 4.04 million.
October 19, 2023 | 2:00 pm
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NEUTRAL IMPACT
The reported home sales, which exceeded estimates but were slightly lower than the previous month, may have a neutral impact on SPY.
The SPY ETF, which tracks the S&P 500, may be indirectly affected by the housing market data. While the sales exceeded estimates, indicating a potentially healthy economy, they were lower than the previous month, which could signal a slowdown. This mixed signal is likely to have a neutral impact on SPY.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50