Currently the default method to rearrange WordPress pages or posts is to go to All Posts / All Pages. Click “Quick Edit” of the page/post you would like to have for instance in the top and be sure it has 0 (rewrite it to become 0). Select various other pages/posts and add another number in the Order field.
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Using plugins to rearrange the order of pages and posts.
Nested Pages plugin
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Reorder Posts plugin
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CMS Tree Page View plugin
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Post Types Order plugin
Has a settings page to where one can decide to re-order Posts, Media, Reusable blocks and Navigation Menu. By default reordering pages in always on.
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Simple Page Ordering plugin
Simple Page ordering also has a drop and drop similar to Post Types Order, but does not have a settings page.
Drag and drop in WordPress Core
There is a trac ticket ages old. Since no one has really taken a hold of implementing ordering and a tree view for core.
Check out the Trac ticket: https://core.trac.wordpress.org/ticket/2702
The first version of this article was originally written 15 January 2015.