Outside the plunge during the first wave of the COVID-19 pandemic in the spring of 2020, this was the lowest level since November 2010.The U.S. central bank is seeking to slow unacceptably high inflation by bringing down demand for everything from housing to labor.Reports this week showed confidence among homebuilders dropping for a record 12th straight month in December, while single-family homebuilding and permits tumbled to a 2-1/2-year low in November.It was still the highest house price for any November and prices remain about 37% above their pre-pandemic level.At November's sales pace, it would take 3.3 months to exhaust the current inventory of existing homes, up from 2.1 months a year ago."