National News

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. 

Chicago-based Baird & Warner launches brokerage in Naples

Baird & Warner has opened a new branch in Naples, Florida. Although the Chicago-based brokerage has conducted some business in Wisconsin and Indiana, the move represents its first office outside of Illinois.

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. 

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

Downsizing from a four-bedroom home to a two-bedroom home in South Florida would save the typical homeowner more than $322,000.

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.

Miami 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.

Future buys $16.3 million home in Miami Beach

The Grammy-winning rapper’s new home is 8,897 square feet, featuring seven bedrooms and 8.5 bathrooms on gated Allison Island. 

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. 

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. 

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.  

MBA: Mortgage applications fall as 30-year fixed hits 21-year high

At the same time, mortgage applications declined 1.7% on a seasonally adjusted basis on a week-over-week basis, according to the Mortgage Bankers Association. 

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