As interest rates climb, people who own homes with low mortgage rates have little incentive to sell, keeping the supply tight.
Trade groups say the industry is in recession, but prices are still high and foreclosures are low.
Higher home prices and the Federal Reserve's efforts to curb inflation are responsible for much of the slowing market.
The housing market is cooling a little. But there still aren't that many homes for sale, just more than last year.
Home prices are at record levels, and mortgage rates are much higher now than they were six months ago.
For buyers, the competition is less fierce, but some sellers still have "pie in the sky" hopes.
Extra space is at a premium for those who want to Zoom in peace.
City life is making a comeback and there aren't enough condos out there
October's increase was smaller than September's, which was smaller than August's.
The National Association of Realtors reported on Monday that pending home sales were up 7.5% in October.