Buffalo, NY just became ranked as the second best market to watch for in 2011. It fell just behind Washington D.C and right before Des Moines, Iowa. This data, which was presented by Inman News on March 11, 2011, stated that out of the top 10 best markets to watch eight of them were located in the northeast. Another city close by that made the list was Elmira, NY.
One of the reasons for this is that the foreclosure rate in Buffalo dropped 43.5 percent in 2010, making it one of the lowest in the country.
“Buffalo is different than the rest of country. We have a very stable market. It didn’t go up dramatically, (and) didn’t go down dramatically,” said Susan Lenahan, an agent at MJ Peterson Real Estate in Buffalo.