The number of homes for sale increased by 26.2% year-over-year, marking the highest level since December 2019. Unsold homes rose by 22.5%, while new listings grew by only 2.0%. The median home price decreased slightly to $416,880, but the price per square foot rose by 1.6%. Homes spent an average of 62 days on the market, the slowest November in five years. Inventory growth varied by region, with the South and West showing the most significant increases. Price reductions decreased, with 16.7% of sellers cutting prices in November.
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