Bizjournals researchers call Buffalo a pocket of prosperity. Housing values have deteriorated in three-quarters of the nation's major markets, but not in WNY. The value of a typical home in the Buffalo area rose by 3.3 percent between the first quarters of 2008 and 2009. That's the second-best rate of appreciation in America, topped only by Houston's 3.8 percent.
Buffalo is not the only success story in Upstate New York. Rochester values are up 1.6 percent and Syracuse 1.2 percent.
Seventy-seven of America's 100 largest markets suffered declines in property values during the past year.
You can find the full report in this week's Business First.