Home-seller Orchard becomes latest billion-dollar city tech startup

Orchard, which promises customers they can buy their next home before selling their current one, has raised $100 million at a $1 billion valuation, making the firm the latest in the growing list of New York–based unicorns.

The startup, headquartered in Midtown South, is among a growing group of technology firms targeting the housing market, which has been booming since the start of the Covid-19 pandemic. The median sales price of single-family homes rose 23% in the second quarter of the year compared with a year earlier, to $357,900, according to the National Association of Realtors.

Orchard’s product attempts to resolve headaches for homeowners selling their existing house

→ Continue reading at Crain's New York Business

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