The market is selling off a bit today. As of the middle of the trading session, we are looking at the following

Symbol Last Change
Dow 14,058.29 Down 29.26 (0.21%)
Nasdaq 2,739.49 Down 1.50 (0.05%)

The main reason for why the market is falling today can be traced back to a weak Home Sale Forecast Index that came out today, only emphasizing the current woes on the housing market that we have been dealing with over the past several months. According to today’s report, The National Association of Realtors is now stating that pending sales for existing homes fell 6.5 percent from July, and 21.5 percent from a year ago. Since this is a major indicator for what we can expect to see coming in the next couple of months for housing sales, it is definitely more bad news for an already struggling housing market.

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