The housing market seems to be stuck in second gear. Mortgage rates eased out to 6.35% this week, though the lowest it has been in nearly a year, but affordability remains mostly tight. Moreover, July existing-home sales ran at 4.01 million SAAR, with around 4.6 months’ supply and a $422,400 median price. August list price held around the $429,990 mark while homes sat 60 days on market, up seven days year-over-year. That mix mostly points to cautious buyers, along with a thin supply, despite a small rate break. Stock Widget Against that backdrop, one housing stock has gone near-vertical. Opendoor Technologies OPEN…
Author: Patrick Lee
About 20 miles north of Midtown Manhattan, the city of New Rochelle, NY—home to roughly 85,000 residents—has quietly rewritten the housing playbook, making it a rare example of a suburb where added supply has actually stabilized and even reduced rents. While the broader New York metro and much of the nation grapple with surging rent inflation, New Rochelle has kept rent growth to 1.6% since 2020, and rents have declined slightly from 2020 to 2023. According to The Wall Street Journal, New Rochelle added 4,500 new housing units over the past decade, with another 6,500 in the pipeline—a 37% expansion in…
