Economists Cautiously Optimistic About Rochester Economic Future
By: Mark Gruba
Updated: January 31, 2013
Rochester's real estate leaders gathered Thursday morning to hear a forecast on the region's economy and share their own thoughts on the potential for growth in 2013.
Overall, they are functioning with cautious optimism. Many feel the area's slow-but-steady economic growth has the potential to be spurred by housing gains. Over 200 people have braved the wind and snow to hear what economist Gary Keith and others had to say about real estate and the overall economy. The economic forecast breakfast was sponsored by the Greater Rochester Association of Realtors and the Mortgage Bankers Association.
"We don't take the big risks, but at the same time I think we are atuned to working in a sluggish growth environment," Keith said.
"New jobs, new companies have to be created, we need to have growth and success, and then that leads to other great things in the economy like new homes built, new homes sold," GRE president Mark Peterson said.
Rochester has experienced six straight quarters in growth for home sales. Last year regional closings grew by eight percent.
Overall, they are functioning with cautious optimism. Many feel the area's slow-but-steady economic growth has the potential to be spurred by housing gains. Over 200 people have braved the wind and snow to hear what economist Gary Keith and others had to say about real estate and the overall economy. The economic forecast breakfast was sponsored by the Greater Rochester Association of Realtors and the Mortgage Bankers Association.
"We don't take the big risks, but at the same time I think we are atuned to working in a sluggish growth environment," Keith said.
"New jobs, new companies have to be created, we need to have growth and success, and then that leads to other great things in the economy like new homes built, new homes sold," GRE president Mark Peterson said.
Rochester has experienced six straight quarters in growth for home sales. Last year regional closings grew by eight percent.
