While existing home sales were still down compared to the same period last year, November marked the first month of growth in five consecutive months. This suggests that with the decrease in mortgage interest rates and a gradual recovery in demand, the market is gradually emerging from a downturn.

Currently, mortgage interest rates are at relatively low levels, which may help boost buyer interest and drive home sales. Additionally, the ongoing shortage of supply is a significant factor contributing to the rise in housing prices.

Due to the insufficient supply of new homes, many homebuyers are shifting their focus to the resale market, resulting in a sharp reduction in housing inventory and an increase in prices.

Some economists predict that with the decline in mortgage interest rates, the housing demand in early 2024 could show strong performance, putting pressure on housing prices. They anticipate that most markets will set new price highs in 2024.

On the flip side, another risk associated with rising prices is the potential negative impact on housing sales. Elevated prices and mortgage interest rates may make potential buyers hesitant, thus suppressing market demand.

The development of the U.S. real estate market is also influenced by various factors. Geopolitical risks, economic recessions, natural disasters, and government policies can all have significant effects on the market. For example, tax policies and financial regulations can widely impact the real estate market.

In the coming months, it's crucial to continue monitoring the development of the U.S. real estate market. While there are signs of a rebound in the market, uncertainties persist.

Factors such as whether the growth of the U.S. economy can be sustained and if escalating geopolitical risks will impact the market need further observation. Additionally, adjustments in government policies can have a substantial impact on the market.