US October existing home sales 3.75m vs 3.85m expected

Prior was 3.99m (revised to 3.97m) Sales -5.5% vs +1.5% prior (revised to +1.0%) Inventory at 5.1 months Median price $416,700, up 0.4% y/y The US housing market is in a deep slump and there is no help coming from the Fed. At some point it will turn but we're not there yet. For…