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Erie County real estate sales decline as interest rates and financing dampen demand

The biggest, most obvious factor is interest rates, which have skyrocketed over the last year.
Credit: Andy Dean - stock.adobe.com
For Sale Real Estate Sign in Front of Beautiful New Home.

BUFFALO, N.Y. — Erie County real estate sales have dipped this year, according to data from the county clerk's office.

As of the end of August, there have been 13,870 real estate transactions in the county, totaling just under $2.5 billion, according to that data. That's a decline of about 14.5% in volume and 16.2% in value from the same period last year.

Bill Heussler, associate real estate broker and branch office manager for Hanna Commercial Real Estate, said the trend is unlikely to change anytime soon.  You can read the full story on Buffalo Business First's website

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