Real Estate Helps Buffalo Economy

Buffalo in Top Third for Economic Growth

November 5, 2013 Updated Nov 6, 2013 at 10:51 AM EDT

By Elizabeth Carey

November 5, 2013 Updated Nov 6, 2013 at 10:51 AM EDT

Buffalo is in the top third of the country in the latest economic survey.

The On Numbers Economic Index offers a monthly look at economic conditions in 102 major metro areas. Buffalo ranks 32nd for October, down slightly from 27th place in September.

But researchers say Buffalo's strengths include a stable housing market - the value of a typical home is up six percent since 2008. Only three cities: Austin, Houston and Pittsburgh had better real estate growth.

Buffalo also has strong retail activity. It ranks 29th in the U.S. and there's a decline in unemployment here. The jobless rate dropped one percent from last year.

Here's a look at the rankings..
1. Austin, TX
2. Dallas-Fort Worth, TX
3. Provo, Utah

32. Buffalo, NY

102. Bridgeport-Stamford, Conn.

You can get the complete list and details in this week's Business First.