CNN BUSINESS | Home sales are off the charts

Even amid a global pandemic and high unemployment, people are still buying homes at the fastest rate in years.

Home sales rose again in October, at their highest pace in 14 years, according to the National Association of Realtors.

But a record low inventory of available homes and a greater number of luxury homes sold have pushed the median home price up to a record $313,000, almost 16% more than a year ago. Total housing inventory dropped 3% from September and is down nearly 20% from a year ago.  —read more—