The harsh winter put a damper on new home construction in the first quarter.
Chief Executive Officer Rick Herman says they couldn't get building starts into the ground because of the cold winter weather in January, February and March.
But he says last year's winter was also very rough, and new construction rebounded.
Herman says they expect an even larger adjustment this year, and there's plenty of activity in the marketplace.
Sales of existing homes dropped 4 percent, reflective of the nearly 18-percent drop in the overall inventory of homes for sale, year over year.
That's according to Andy Burke, President of the Greater Rochester Association of Realtors.
He says the inventory is at a 10-year low, but the homes they do have for sale generally sell very quickly if they are well priced.
And they often get multiple offers.
Burke adds they're very optimistic for 2015, and while it's definitely a seller's market right now, for buyers, interest rates continue to stay very low.
He says they know the Federal Reserve's actions will interest raise rates over the next year or so, but right now they are at historic lows.