What Today’s Economy Means for the Lower Westchester Housing Market

The headlines are full of mortgage rates, inflation, and economic uncertainty. Here’s what the data actually shows — and why Lower Westchester keeps outperforming the national story.

Mortgage rates are elevated, but not the deciding factor here. The 30-year fixed rate is averaging 6.49% right now, according to Freddie Mac — up slightly on the week, but still below where it stood a year ago. Rates are a real cost consideration for buyers. They are not what’s setting the pace in Larchmont, Mamaroneck, Rye, Pelham, New Rochelle and Harrison. Inventory is.

Inventory is the actual story. Larchmont homes are currently going under contract in roughly 17 days, with active inventory still historically thin. That’s not a seller’s talking point — it’s the math. When supply is this constrained, well-priced, well-prepared homes routinely draw multiple offers regardless of where the 10-year Treasury closed that week.

Employment and proximity to NYC are doing quiet, steady work. A stable job market keeps buyers confident enough to commit to long-term purchases. Add in a direct commute to Manhattan, and Lower Westchester continues to pull relocating professionals who are prioritizing school district and quality of life over chasing a lower rate elsewhere.

What this means if you’re buying or selling: National headlines set the mood. Local inventory sets the price. In this market, a strategic list price, sharp preparation, and accurate positioning matter more than any single Fed announcement — and they’re the difference between a home that sits and a home that draws competing offers in its first two weeks.

If you’re weighing a move in the next 6–12 months, now is the time to talk numbers specific to your street, not the market at large.