Optimistic Future for Local Housing Market

There's good news about the local economy to report. Home sales are on the rise in the Rochester area.

They've gone up in each of the last four quarters. Since last year, home sales have jumped two percent. That might not seem like a lot but in New York State, home sales dropped one percent and worse yet, in the Northeast, they're down even more.

Realtors say consumer confidence is rising in Rochester. More people are shopping for houses. Jayce Grefrath is a first-time home buyer.

"It's so exciting because my grandpa and uncle are contractors and so for me I always had this desire to build things, so it's kind of been frustrating when you are renting things," said Grefrath.

Realtor Steve Babbitt says the housing market has always remained steady in Rochester, but now it's beginning to climb.

Babbitt is a realtor with RE/MAX and President of the Greater Rochester Association of Realtors. He says things are picking up.

"We are moving out of it. It's much slower than we thought it would be. The market is still a very tentative market. I would say it's more of a buyer's market than a seller's market," said Babbitt.

Now there's help for buyers like Jayce. The city of Rochester's Home Purchase Assistance Program provides down payment and closing cost assistance for your first home.

"Went down to the city and said hey can I apply for this grant and they said here's all the paperwork that you need to fill out. Here's all the hoops that you need to jump through. My company actually matched the grant which was part of the conditions of the grant," said Grefrath.