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The US housing market is seeing more inventory pile up as would-be buyers remain reluctant amid elevated prices.

In November, active listings rose 0.5% month over month and 12.1% year over year,according to Redfin’s analysis

America’s homebuyers have had an extraordinarily difficult few years. A combination of surging demand and scarce inventory has led to fierce competition among buyers, driving home prices to record levels. On top of this, high interest rates have increased borrowing costs, creating another major hurdle for aspiring homeowners.

Napa County’s Planning Commission has given the green light to build a new winery in Oakville. The new Bonny’s Vineyard winery, proposed by Meyer Family Enterprises, can produce up to 30,000 gallons of wine a year. It includes a 11,000 square-foot wine production facility and tasting room and a patio on 25.5 acres off of Skellenger Lane.

Bond market investors who fund most mortgages focus on the latest dot plot, which shows Fed policymakers only expect to bring short-term rates down by half a percentage point in 2025. Federal Reserve policymakers approved their third rate cut of the year Wednesday but laid out a conservative path for future easing that sent long-term mortgage rates heading up on inflation worries.

The Mondavi journey started during the Prohibition era. Italian-American couple Cesare and Rosa Mondavi moved from Minnesota to Lodi, California, in 1922 to sell local grapes for homemade wine. This was one of the few exceptions allowed during a time when the manufacturing and trading of alcoholic beverages were prohibited.