US existing home sales for October 3.96M versus 3.93M

• Prior month 3.84M annualized rate revised to 3.83M
• Existing home sales percentage change +3.4% versus -1.3% last month (revisor -1.0%
• Up 2.9% from October last year
• 30 year mortgage 7.05% which is up from 6% at September lows
• Inventories 4.2 months which is still low
• median price $407,200
• All-cash sales 27% which is still historically high
• First-time buyers 27% versus 40% historically

This article was written by Greg Michalowski at www.forexlive.com.