Home sales in the U.S. fell 35.1% year over year in November on a seasonally adjusted basis, according to a new report from Redfin. It is the largest decline in Redfin’s records that date back to 2012. Home-price growth also lost momentum as the median home-sale price rose just 2.6% from a year earlier, the smallest gain since May 2020, when the onset of the COVID-19 pandemic brought the housing market to a near halt. The housing market continued to cool in November as elevated housing costs kept buyers and sellers on the sidelines. New listings slumped 28.4% year over year, the biggest drop on record aside from April 2020. Despite the decrease in listings, overall supply rose 4.6% from a year earlier. The typical for-sale home took 37 days to go under contract, up from 23 days a year earlier. North Port and Tampa led the increase in the number of homes for sale, with active listings rising 61.3% and 46.1%, respectively. Next came Nashville, Tennessee (45.1%); New Orleans (40.2%) and Seattle (39.2%). According to Redfin, Florida metros likely topped the list because Hurricane Ian drove people to sell their homes, as North Port and Cape Coral were the only two metros where new listings rose on a monthly basis in November.