I don't like labeling movies or categorizing them into certain sub-genres or movements as much as the next guy, but I think it is a fair assessment that over the last few years, a certain style has emerged in American cinema that is greatly influenced by Italian neo-realism and other foreign realist movements. It's produced some of the best, most moving, and most memorable movies of the past few years. Similarities between these movies include a focus on aspects or individuals of American society not typically addressed by mainstream cinema, deliberate pacing, 'documentary-esque' cinematography, etc. etc.

A.O. Scott wrote an interesting piece on this tendency, that you can read here.
http://www.nytimes.com/2009/03/22/magazine/22neorealism-t.html

Some great examples of this tendency are:

The three films by director Ramin Bahrani. Man Push Cart (2005), Chop Shop (2007), and my personal favorite Goodbye Solo (2008).
The two films by Anna Boden and Ryan Fleck. Half Nelson (2006), and Sugar (2008).
Old Joy (2006), and Wendy & Lucy (2008), by Kelly Reichardt.
Ballast (2008) by Lance Hammer.
Momma's Man (2008), by Azazel Jacobs.

Frozen River (2008, Courtney Hunt), is stylistically similar, but not quite as good, IMO. Steven Soderbergh's The Girlfriend Experience (2009), is also similar, if a somewhat less successful film. Gus Van Sant's Paranoid Park also bears some similarities to these movies.

Rachel Getting Married and The Wrestler bore certain similarities to these movies as well, but the works of Bahrani, Reichardt, Hammer, and Boden/Fleck are definitely the best examples.

I made a Netflix list of all the movies mentioned in this post, if anyone cares.
http://www.netflix.com/StrangerLists?prid=632441445&showList=354796

Will check these out.

I saw 'Rachel Getting Married'. I didn't notice the neo-realism but it reminded me of that strain of American independentish cinema which always focuses on suburban angst. You guys are obsessed with it! Just demolish the bloody suburbs if they really destroy everyone's souls!

I thought Rachel Getting Married was really, really good.

Really? I just didn't buy into it. Anne Hathaway was really good though.

The only one of these I've seen is Half Nelson. I thought that was excellent.

A lot of those are very good, especially Half Nelson and Sugar. Been wanting to see Ballast and Chop Shop as well. I was just thinking about how this type of movie has become more prevalent, and I think that's a very good thing.

The Girlfriend Experience

Hard for me to care about those two yuppies, though Sasha Grey showed some legit acting potential, but won't pursue it further.

Would Moon count as one of these? lol.

i didn't care for it at all

lol @ Buffalohed

Yes, I saw Chop Shop and Frozen River. Both great examples of films in the realist style.