They say real estate is local. Meaning it depends on where you live. I am fortunate to live in Upstate NY. Even Forbes seems to think so. Rochester NY was rated as one of the strongest housing markets on their list. You can see the full article here: America's 25 Strongest Housing Markets - Forbes.com
We didn't have huge gains, therefore we are not seeing the huge drop like other areas are. The negative publicity may have slowed things down a bit but our market is generally a stable one. Home values have increased an average of 3% here in the last five years.
The 25 Strongest Housing Markets Are:
- McAllen, Texas
- Syracuse, New York
- Pittsburgh, Pennsylvania
- Buffalo, New York
- El Paso, Texas
- Tulsa, Oklahoma
- Houston, Texas
- Charleston, South Carolina
- Little Rock, Arkansas
- Birmingham, Alabama
- Fort Worth, Texas
- New Orleans, Louisiana
- Dallas, Texas
- Austin, Texas
- Rochester, New York
- San Antonio, Texas
- Augusta, Georgia
- Baton Rouge, Louisiana
- Memphis, Tennessee
- Oklahoma City, Oklahoma
- Albany, New York
- Indianapolis, Indiana
- Columbia, South Carolina
- Scranton, Pennsylvania
- Omaha, Nebraska
;)
;)
Am I correct in remembering that about 5-10 years ago, your market was one of the very worst? (or maybe it was Buffalo?) I guess it is all cyclical and you are on the upswing....I can't wait for my market to be on the upswing!