Opendoor Technologies Inc (OPEN) saw its stock price surge 5.26% during intraday trading on Wednesday, marking a significant upward movement for the real estate services company.

The sharp rise was triggered by former President Trump's announcement of new measures aimed at improving housing affordability, which sparked a broad rally across residential real estate stocks. The policy initiative specifically targets housing cost reduction, directly benefiting companies operating in the real estate services sector like Opendoor.

Within the Real Estate Services sector, the rally was widespread with several major players experiencing gains, though Opendoor's performance stood out during the session. The company had initially surged even more dramatically in pre-market trading before moderating during regular hours.