Buffalo Niagara's home sales showed modest growth in 2007, at a time when
the national housing market is in a slump.
It's not a new trend. The region's housing market has typically followed a
slow-growth pattern, removed from the more drastic ups and downs that
have occurred in the national market.
Local real estate executives say they don't expect to see much of a change
this year. They like the amount of supply in the market, and say prices remain
within reach for many buyers.
A big test on the horizon: the health of the national economy, with some
economists warning that it could be on the brink of recession. Sales figures
over the next several months will show whether the region's housing market
is able to stay on its own steady path.
-- Matt Glynn