RE/MAX Reports The Number Of Homes For Sale Climbed For The Seventh Consecutive Month Across The 52 Metro Areas Surveyed – 6.4% Higher Than August And 33.6% Above September 2023 Levels. New Listings Also Increased 9.7% Compared To September 2023.
Portfolio Pulse from Benzinga Newsdesk
RE/MAX reports a continued increase in the number of homes for sale, with a 6.4% rise from August and a 33.6% increase from September 2023. New listings also grew by 9.7% compared to September 2023, indicating a cooling in home sales and a slight dip in prices.
October 15, 2024 | 12:47 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
The cooling housing market, as reported by RE/MAX, may have a broader impact on the economy, potentially affecting the SPY ETF. However, the direct impact on SPY is less pronounced.
While the housing market is a significant part of the economy, the direct impact on SPY is less pronounced due to its diversified holdings. The cooling market may have a broader economic impact, but the effect on SPY is likely neutral in the short term.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20
NEGATIVE IMPACT
RE/MAX reports a significant increase in housing inventory and new listings, indicating a cooling housing market. This could impact RE/MAX's revenues and stock price as home sales slow and prices dip.
The increase in housing inventory and new listings suggests a cooling market, which could lead to lower revenues for RE/MAX as home sales slow and prices dip. This is likely to negatively impact RMAX's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100