The pace of new single-family home sales, meanwhile, fell 6.1% from September to 598,000.
In the wake of this new rule, FHA borrowers will have a choice between federal flood insurance and private flood insurance.
The brand will specialize in cottage-style homes with private backyards.
The median existing-home price rose for the 128th month in a row, extending its record-breaking streak of increases.
The number of homes under construction rose during the month, as homebuilders continued to work through a large backlog of homes.
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.
The appointment was one of many leadership announcements the National Association of REALTORS® made at its annual convention in Orlando, Florida.
The company will let go of 862 employees and eliminate the roles of another 218 people, Redfin CEO Glenn Kelman said.
The new chief executive previously served as CEO of the Women’s Council of Realtors®.
Homebuyer demand is starting to stabilize as October home sales posted the largest decline since 2015, according to a new report.