National News

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. 

Seattle ranked one of the best metro areas for cashing in on downsizing

Downsizing from a four-bedroom home to a two-bedroom home in the Seattle area would save the typical homeowner nearly $298,000.

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.

Seattle named one of the cities with the best real estate prospects in 2023

The 44th edition of the in-depth forecast report examined 80 cities to determine trends in the real estate industry for 2023.

CoreLogic: September brings fifth consecutive monthly slowdown in home-price growth 

Looking ahead, CoreLogic expects national year-over-year appreciation to slow to 3.9% by September 2023. 

Greater percentage of Realtors® incorporating Instagram and LinkedIn into their work

The technology survey offers insights into how Realtors value technology and use social media.

PulteGroup COO to retire next year 

The Atlanta-based homebuilding giant will replace the outgoing executive with its senior vice president for field operations. 

NAR: Pending-home sales drop 10.2% in September 

September is the fourth month in a row to see declining sales activity. 

Mortgage rates top 7% for first time since 2002 

A 30-year fixed-rate mortgage rose to 7.08% this week from 6.94% a week ago, Freddie Mac reported. A year ago, the average mortgage carried a 3.14% rate. 

Washington named one of the 10 safest states in the U.S.

Washington ranked No. 9 on the safety list overall.

New-home sales resume downward trajectory in September 

Mortgage rates continued to weigh on homebuyers in September, following a brief uptick in new-home sales in August.  

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