Why the 27% drop in home sales shouldn't worry you (too much)

There was a collective gasp when the news broke Tuesday that existing home sales had fallen off by a whopping 27%. Economists stammered and teared up over the deterioration of the housing market. And we're sure that more than a few real estate agents -- the ones who managed to take their heads out of the oven -- went straight to call Mom and see if their old bedrooms were still available.

Time to take a deep breath. Here's what the news really means to you: Likely nothing.

Do you have a house you need to sell? No? Then put your crying towel away, or loan it to someone who really needs it.