ROCHESTER, NY (WROC) — Tuesday’s cover of the New York Post asked city readers downstate “Who wants to move to Rochester?” highlighting the phased economic reopen. Some experts say that, and an appealing housing market, make for some strong motivators while the coronavirus pandemic keeps New York City largely shut.
“We call it in the industry ‘Steady Eddie,” Rick Herman with the Rochester Home Builder’s Association said. He says the Finger Lakes is one of the most solid real estate settings in the US.
“The market is very low in inventory, so it’s even a better time for people to look at new construction,” Herman said.
“What happens in Rochester is you get more life for your dollar,” George Conboy, a financial expert with Brighton Securities said. He says the appeal for New York City residents to come here goes beyond the housing market. “With that lower cost in housing, you can easily own a car — and in 15 minutes, be in the country, be at the lake side…recreational activities are way better here,” Conboy said adding the commute times are also seriously sliced down.
Conboy and Herman say even during the pandemic, the real estate market has been pretty good. Post-pandemic, expect a surge. With so much time spent indoors, people are now realizing their home is their castle.
“Either they’re going to be remodeling that home, making adjustments to that home, or they’re going to go out and sell that home,” says Herman.
With jobs opening up here first, and the housing market hitting highs, Herman says the Big Apple might take a bite out of Rochester in the coming months. “I think more and more people will look at Upstate as a much more desirable place.”