WS #15790
US existing home sales for September came in at 3.99 million, beating the 3.95 million estimate and reversing a prior month's decline. Median home prices held steady at $417.5K. This resilience in the housing market, combined with an IMF report stating the global economy is holding up better than expected, provides a supportive backdrop for consumer discretionary and financial stocks, offsetting some of the geopolitical headwinds.
US Housing & Macro Stability
US existing home sales for September came in at 3.99 million, beating the 3.95 million estimate and reversing a prior month's decline. Median home prices held steady at $417.5K. This resilience in the housing market, combined with an IMF report stating the global economy is holding up better than expected, provides a supportive backdrop for consumer discretionary and financial stocks, offsetting some of the geopolitical headwinds.