How's the Market? Your Q2 2026 Housing Update for Orange, Rockland, Sussex & Passaic
If there's one question I get more than any other right now, it's this: "Jimmy, how's the market?"
Fair enough — it's a fair question, and it deserves a real answer, not just a shrug. So here's the full picture from Q2 2026, broken down so the numbers actually mean something.
The National Backdrop
A few things happened at the national level worth knowing:
- Rates moved, and not in a straight line. The 30-year fixed climbed to 6.58% by July 23, then further to 6.827% by July 29 — a meaningful jump from the mid-6% range we saw in June, driven largely by oil prices tied to renewed tension in the Middle East.
- Sales cooled month-over-month but stayed up year-over-year. June existing-home sales dipped 2.4% from May, but were still up 2.8% compared to a year ago.
- Prices kept climbing. The median existing-home price hit $440,600 in June — up 1.8% year-over-year, marking the 36th straight month of gains.
- Inventory grew slightly but stayed historically tight.
- Affordability actually improved year-over-year, with NAR's affordability index rising to 102.3 from 95.5 a year prior.
- The Northeast remains the outlier — tighter supply, firmer prices, and the only region that saw month-over-month sales growth in June.
What That Means Here at Home
Locally, across Orange and Rockland Counties in New York, and Sussex and Passaic Counties in New Jersey, the story tracked the national trend of a tight, competitive market — with some real differences county to county.
Days on market fell in every county, every month this quarter:
- Orange: 58 → 54 → 38
- Rockland: 43 → 27 → 28
- Sussex: 23 → 20 → 17
- Passaic: 22 → 21 → 17
Every one of these markets ended the quarter moving faster than it started.
Inventory rose across the board — but stayed tightest in New Jersey. All four counties saw more supply come online through Q2, but Sussex and Passaic never crossed 3.1 months of inventory, keeping conditions competitive. Orange moved closer to balanced-market territory, ending the quarter at 4.95 months.
Sold-to-list stayed above 100% almost everywhere. Passaic climbed every single month, ending the quarter as the region's strongest seller's market at 106.1%. Rockland crossed above 100% in May and held there through June. Sussex stayed above 102% all quarter. Orange was the outlier, dipping just under 100% in April and May before crossing back over in June.
Month-by-Month Snapshot
County | April Median Price | May Median Price | June Median Price |
|---|---|---|---|
Orange, NY | $425,000 | $496,500 | $470,000 |
Rockland, NY | $653,520 | $755,000 | $800,000 |
Sussex, NJ | $442,500 | $477,500 | $460,000 |
Passaic, NJ | $585,000 | $585,000 | $610,000 |
Rockland stood out as the region's premium market, climbing steadily through the quarter and closing June as the strongest seller's market among the New York counties, with homes still selling above asking in 28 days. Passaic edged out the rest on overall competitiveness — both on sold-to-list ratio and tying Sussex for the fastest close time in June at 17 days.
Click here to view the full 2026 Q2 Marketing Brochure
Looking Ahead to Q3 2026
The national forecast points toward gradual stabilization: home price growth slowing to low single digits, mortgage rates holding near 6.5%, and inventory improving — though still below pre-pandemic norms. Sales are expected to rise modestly, affordability should continue its slow recovery as income growth catches up, and the market is generally shifting toward more balance between buyers and sellers.
What This Means for You
If you've been wondering what your home is worth in today's market, or whether now is the right time to make a move, the data above is a starting point — not the full story. Every property and every situation is different, and I'm happy to sit down and walk through what these numbers mean for yours specifically.
And if you need a contractor referral, a lender connection, or a straightforward answer to a real estate question, that's what I'm here for.
Each month, my team also puts together a 15–20 minute Housing Market Update video to help keep homeowners informed. You can find the latest one at hmupdate.com.
Sources: NAR's June 2026 report (July 9), Freddie Mac PMMS (July 23 & 29), Realtor.com Monthly Housing Trends Report (June 2026), Cotality Home Price Insights (July 2026), Calculated Risk Housing Market Overview (mid-July 2026), RPR® Local Market Data.
James J. Cosenza Real Estate Salesperson | Better Homes and Gardens Real Estate Green Team 914-588-1546
