New Home Sales Rise Less Than Forecast

The National Association of Realtors released the existing home sales index, showing an increase of 0.3 percent after falling 1 percent in August. The rise of 0.3 percent was less than the consensus forecast for a rise of 1 percent and may signal that sales growth may have flattened out. Low rates and increased jobs are being offset by tighter lending standards. Many economists are looking for housing to show tempered, but not spectacular, growth over the coming months. Shares of the Housing ETF

closed unchanged on the day at 30.76.