USA New Home Sales (MoM) For April -4.7% Vs 5.4% Prior
Portfolio Pulse from Benzinga Newsdesk
USA New Home Sales for April decreased by 4.7% compared to a 5.4% increase in the previous month.
May 23, 2024 | 2:00 pm
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The decline in USA New Home Sales for April by 4.7% could negatively impact the SPDR S&P 500 ETF (SPY) as it reflects a slowdown in the housing market, which is a significant component of the economy.
The housing market is a key indicator of economic health. A decline in new home sales suggests a potential slowdown in economic activity, which could negatively impact the broader market represented by SPY.
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