National News

MBA: New-home mortgage applications fall in October 

The pace of new single-family home sales, meanwhile, fell 6.1% from September to 598,000. 

FHA allows borrowers to obtain private flood insurance

In the wake of this new rule, FHA borrowers will have a choice between federal flood insurance and private flood insurance.

Taylor Morrison launches Yardly build-to-rent brand 

The brand will specialize in cottage-style homes with private backyards. 

NAR: Existing-home sales fall again in October as prices continue to rise 

The median existing-home price rose for the 128th month in a row, extending its record-breaking streak of increases. 

Housing starts slow in October but remain elevated 

The number of homes under construction rose during the month, as homebuilders continued to work through a large backlog of homes. 

MBA: Mortgage applications rebound on lower rates 

The largest single-week decline in conventional mortgage rates since July brought the first increase in home-loan applications since September, the Mortgage Bankers Association said. 

NAR names Utah Realtor as 2023 president 

The appointment was one of many leadership announcements the National Association of REALTORS® made at its annual convention in Orlando, Florida. 

Redfin cuts 13% of its workforce, eliminates RedfinNow

The company will let go of 862 employees and eliminate the roles of another 218 people, Redfin CEO Glenn Kelman said.

Residential Real Estate Council hires new CEO 

The new chief executive previously served as CEO of the Women’s Council of Realtors®. 

Homebuyer demand stabilizes as mortgage rates dip

Homebuyer demand is starting to stabilize as October home sales posted the largest decline since 2015, according to a new report.

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