USA Pending Home Sales Index For May 70.8 Vs 72.3 Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Pending Home Sales Index for May has decreased to 70.8 from the previous 72.3, indicating a slowdown in the housing market.
June 27, 2024 | 2:00 pm
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The decrease in the USA Pending Home Sales Index for May to 70.8 from 72.3 suggests a potential slowdown in the housing market, which could impact the broader economy and, consequently, the SPY ETF.
The Pending Home Sales Index is a leading indicator of housing activity. A decrease suggests a potential slowdown in the housing market, which can have broader economic implications. As SPY tracks the S&P 500, it may experience some volatility due to this news.
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