As many housing markets across the country struggle mightily in the aftermath of the 2007-09 recession, home prices in the Rochester area remain solid and the real estate industry expects a pickup in activity this year after a mild slowdown.
The fact that Rochester came through the recession in better shape economically than most metropolitan areas in the U.S. is largely due to the stability of the real estate market, local and national economists say.
According to statistics compiled by the Federal Housing Finance Agency, only three of the nation’s 51 metro areas with a population of at least 1 million made it through the past 15 years without a single year of falling home values.
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