According to the Rochester Business Journal, last month, ClearCapital.com Inc., a California-based provider of real estate data, released their final Home Data Index Report for 2011 with a forecast for 2012. The report listed Rochester as one of the top major real estate markets to experience growth in home prices in 2011, but in their most recent update, the report forecasts that the market will remain stable in 2012.
The report takes the country’s overall real estate market in terms of stability and home prices as well local economic conditions and real estate owned saturation meaning foreclosure and forfeiture. Rochester ranked fourth among major metro markets with an overall increase of 4.7% in 2011. Ahead of Rochester is Dayton, Ohio; Orlando, Florida; and the Miami-Fort Lauderdale-Miami Beach markets.
The 2012 forecast predicts a very slight national increase in home prices of 0.2 percent. One year from now, ClearCapitol.com, Inc. also predicts that the Rochester market will be ranked 26th among major metro markets, the highest ranking market in New York.