According to a study conducted by Realtor.com, Rochester, NY is rated as one of the top six housing markets in the United States.
The study was based on several key housing factors such as mortgage rates, existing home sales, existing home sales price appreciation, homeownership rate and more. National market activity also played a role in the results. Things like GDP, employment, consumer confidence and monetary policy were analyzed as well.
In the end, the results favored housing market growth for Rochester. Based on this study, Rochester is expected to see a 4.7% growth in sales, a 0.4% price increase, and an average median home price of $149,000. The study also predicted a 2020 trend in which more homebuyers will be moving inland and shifting away from coastal living.
Preceding Rochester in the top five U.S. housing markets are Boise, Idaho (1), McAllen, Texas (2), Tuscon, Arizona (3), Chattanooga, Tennessee (4), and Columbia, South Carolina (5).
Read more about this study here.