How Western New York Is Weathering the Economic Storm—And What It Means for Your Next Move

There’s no denying it—2025 hasn’t been the smoothest economic ride. Between inflation, fluctuating interest rates, and housing affordability challenges across the country, it’s easy to see why some Western New Yorkers are feeling hesitant about buying or selling a home.

But here’s the thing: while the national headlines may sound intimidating, Western New York is holding strong—and even thriving—in some key areas. If you’ve been waiting on the sidelines, now may be the time to get back in the game. Let’s break it down.

Inflation Isn’t Stopping Local Buyers and Sellers

Inflation continues to impact household budgets nationwide. Grocery prices, energy costs, and day-to-day expenses have gone up—but the real estate market has adapted. And so has Western New York.

According to recent data, home prices in Niagara and Erie counties have remained relatively stable. In fact, Buffalo was ranked one of Zillow’s hottest housing markets for 2024, and its momentum has continued into 2025. That’s largely due to its affordability compared to national averages, steady job growth, and a demand for housing that hasn’t let up.

In simple terms: people still need to move, and they’re choosing WNY.

Interest Rates Have Settled (And That’s a Good Thing)

Yes, mortgage rates are higher than they were in 2021—but they’re no longer spiking wildly week to week. Rates have settled between 6.5%–7%, and while that’s not historically “low,” it has provided a level of predictability that many buyers needed.

Stable rates mean better planning, more confident decisions, and stronger offers. If you’re a seller, this also means more serious, qualified buyers are entering the market.

Equity Is at an All-Time High for Long-Term Owners

If you’ve owned your home for 7+ years, odds are you’ve built up significant equity. That means more profit when you sell—and more options when you buy your next home. Many homeowners in Western New York are finding that now is the perfect time to cash in on their investment and move into something that better fits their current needs.

Renting Is Getting More Expensive

While interest rates might give some pause, renters are feeling the real pressure. Monthly rents in Buffalo and surrounding areas have steadily increased year-over-year, making homeownership a smarter financial move for many.

If you’re a renter considering buying, this market may offer more opportunities than you think. Our team at Great Lakes Real Estate can connect you with trusted lenders, local grant programs, and expert agents to help make it happen.

Why Great Lakes Real Estate Is Your Guide Through Uncertainty

At Great Lakes Real Estate, we understand that the economic landscape can be confusing. But that’s exactly why having a local expert in your corner matters now more than ever. We don’t just hand you listings or put a sign in your yard—we walk with you every step of the way, whether you’re buying your first home, selling your forever home, or investing in your future.

We know Western New York. We know the numbers. And most importantly, we know how to help you make the right move.

Your Next Step Starts Here

If you’ve been waiting for the “right time,” this might be it. Connect with a Great Lakes Real Estate agent today to learn how the current market works in your favor—and what you can do to make the most of it. Let’s talk today, 716-628-0051. Visit on online at www.greatlakesrealestate.com