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Story summary
- In October, sales of previously owned homes rose 1.2% to 4.1 million, according to the National Association of Realtors.
- Zillow reported October was the strongest in three years, with a 5% rise in new listings and pending sales.
- The typical home value is $362,117, and affordability has improved but remains above the recommended 30% of income for a mortgage.
- Inventory shortfalls have decreased since the pandemic.
