According to Yahoo News, the US housing market is displaying signs of recovery as sales, inventory, and construction activities increase. This comes after more than a year of stagnation due to high mortgage rates. Data from Redfin reveals that pending home sales rose by 1% on a monthly basis in October, reaching the highest seasonally adjusted level in a year. Mortgage applications also increased by 6% monthly and 40% annually, according to the Mortgage Bankers Association. The rise in mortgage applications and sales activity is partly attributed to an increase in inventory, with new listings of homes for sale growing by 3% year-over-year in the week ending November 10. Additionally, housing starts rose by 1.9% on a monthly basis in October, while housing completions increased by 4.6% compared to October last year. However, Redfin's chief economist, Daryl Fairweather, believes that the housing market recovery will be gradual rather than sudden, as mortgage rates remain high and sales are still depressed overall.