Last week, stocks posted solid gains, rebounding from the prior week’s loss. US benchmarks climbed higher, with the S&P 500 gaining 1.72%. Existing October home sales rose 3.4% from the previous month. The median single-family home price was $412,000 in October, 4.1% above the October 2023 price of $396,000. Moderating home price inflation and lower mortgage rates are welcome signs for home buyers.
As we approach Thanksgiving, the holiday season brings increased travel and family gatherings. Additionally, the release of key economic data, including the second revision of third-quarter GDP and personal income and outlays, will provide insights into economic growth, income, and consumer spending patterns. With moderating prices, consumers appear poised to spend more this holiday season, though they are likely to do so cautiously and strategically.
At Unify Financial Advisors, we are grateful for the opportunity to serve you and contribute to your financial well-being. We wish you a joyful Thanksgiving holiday with your loved ones.
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Thank you for reading! You are welcome to contact me directly with questions or comments.
Regards,
David Bennett