US Existing Home Sales at 8-Month High 📈
Existing home sales in the US rose by 4.8% in November 2024, reaching the highest level in eight months, driven by increased buyer demand, growing housing inventory, and consumers adapting to higher mortgage rates.
The increase in existing home sales suggests a strengthening housing market, which could have a positive impact on the investment portfolio. The portfolio's exposure to the S&P 500, European market, and real estate-related stocks like Costco and Walmart could benefit from this trend. Additionally, the rise in home prices could positively impact the portfolio's exposure to the US housing market and related sectors.