Sue Yannaccone, CEO of Anywhere Brands, will lead the brokerage as M. Ryan Gorman moves to a strategic-advisor role. 

Homebuyer demand is rising as mortgage rates continue to decline, according to a new Redfin report.

October’s 4.6% monthly drop follows a 10.2% decline in September, the National Association of REALTORS® reported. 

Nationally, home prices and inventory, rents and mortgage rates will increase, while real estate transactions will decrease, according to Realtor.com.

Housing prices were down in all 20 cities tracked by the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.

New-home sales rose 7.5% month over month, while the median price of a new house surged to $493,000 from $455,700 in September and $427,300 a year ago, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.   

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

Chicago came in at No. 13 in this year’s 2023 World’s Best Cities Report, a comprehensive annual study by Resonance Consultancy.

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. 

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.

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.