Though the average Northern Nevada home costs $545,000 and mortgages are at a 23-year high, buyers are still shopping, albeit at a slower pace.

The unemployment rate is 3.7%, a couple of ticks above a half-century low.

The four-week moving average of claims, which smooths out week-to-week volatility, rose by 5,500 to 226,750.

Existing home sales fell 5.9% last month from September to a seasonally adjusted annual rate of 4.43 million. 

Homes are selling, however, it is just taking more time.

Mortgage rates are on the rise, climbing back into the 5% range.

Applications for jobless aid for the week ending June 25 ticked down to 231,000, a decline of 2,000 from the previous week.