Good News for Buffalo and Western New York

By
Real Estate Broker/Owner with Realty USA

A couple of experts have validated what I've been saying all along.  Buffalo and Western New York have avoided the real estate disaster bubble.  Due to our slow appreciation level (about 3-5% per year over the last 5+ years) as well as our affordable housing stock (average house value at about $130,000 with plenty of inventory well below that) we have averted the roller coaster highs as well as the concomitant lows.  I host a radio show "Welcome Home" (Sat., 11:30 am, WWKB 1520-AM) as the President of the Buffalo Niagara Association of Realtors on behalf of the association.  I recently had, as guests Dr. Elliott Eisenburg, a chief economist with the National Association of Homebuilders and Dr. LawrenceYuhn, Head Economist for NAR on the show and they certainly agree that we have bucked the trend.  the Metropolitan Buffalo area as well as Rochester and Syracuse have avoided a large share of the real estate price volitility.  I guess slow and steady sometimes does win the race.  My fellow Western New York Realtors must bang the drum long and loud that now is the time to buy or sell in a solid and stable marketplace.

Comments (1)

Colleen Irwin
Retired - Irondequoit, NY
Creative Real Estate Solutions...

We definately are bucking the trend!

Dec 07, 2008 04:50 AM