If you're thinking of selling your home, may be a good time to put in on the market, according to figures out today from the Greater Rochester Association of Realtors.
Home prices were up by 1.1 % for the Rochester area in the second quarter, but sales were down 7.6% compared to a year ago.
Association president Andy Burke says that's largely due to a lack of available homes for sale.
"The concern about jobs and the economy we thought was keeping peoples' homes off the market. Now that there's clearly an increase in median prices, clearly it's become a sellers market, and we still aren't seeing a big rush of people putting their homes on the market."
Burke has theories about why more people aren't interested in selling their homes right now.
Some may have refinanced their mortgage at record low rates fairly recently, and some may have renovated or added onto their homes and don't want to buy a new one.