Home sales in the greater Rochester region halted their two-year decline.
But not by much.
One more home was sold in 2019 compared to the year before, according to Greater Rochester Association of Realtors President Andy Kachaylo.
"14,773 sales this year, one more than last year. You'd say that's flat, but in our business, from a continually shrinking amount of sales, that's a victory because it finally flattened out," he says.
Kachaylo adds the median home price went up 5 percent to just under $148,000.
But that's also the price range with the lowest inventory, which means it will likely be a challenging year in 2020 for buyers looking for houses in that range.
"That's where the biggest crush is going to be because the fewest houses are available," Kachaylo says. "More buyers qualify for that price point. So I think you're going to see a lot of pressure on preparation, staging and accurate pricing."
As for new home construction, Rochester Homebuilders' Association President Rick Herman says builders remain concerned about the shrinking, aging labor market.
"We're now trying to figure out how we are going to deliver all those new homes with the labor shortage that we have," he says.
Meanwhile, a regional economist says many of the factors that characterize the Rochester region now are benefiting the local housing market.
Gary Keith, vice president at M&T Bank, addressed the annual economic breakfast put on by the Greater Rochester Association of Realtors, the Home Builders Association and Mortgage Bankers Association.
"So much of the housing demand is derived by people having jobs, people having income to spend, so the stronger growth we've seen over the past year in Rochester, and the lower unemployment numbers we're seeing in the Rochester area are all favorable for the housing market," he says.
Keith says the demand for housing in the Rochester region is strong, but the reduced availability of properties for sale remains an issue.
He says strong demand is driving up prices.