USA Existing Home Sales (MoM) For August -2.5%; 1.5% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA's existing home sales for August decreased by 2.5% compared to a 1.5% increase in the prior month, indicating a slowdown in the housing market.
September 19, 2024 | 2:00 pm
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The decline in existing home sales by 2.5% in August may impact the SPY ETF, as it reflects a slowdown in the housing market, which can affect consumer spending and economic growth.
The SPY ETF, which tracks the S&P 500, could be affected by the housing market's performance as it is a significant component of the economy. A decline in home sales may indicate reduced consumer confidence and spending, potentially impacting broader economic growth and, consequently, the SPY.
CONFIDENCE 80
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