Home prices in the Capital Region are up an average of two-percent this year, while nationally, prices are down five-percent.

And it is certainly having an effect on sales, too, which are down eight-percent this year. But upstate realtors say buying a home in the Capital Region could be on a rebound. Realtor Anthony M. Gucciardo showed us one of the homes in his portfolio Tuesday.

"In the seller's market a year or two ago, I was selling a house pretty much every day," Gucciardo says. "Now, you're down to maybe once a week." Area realtors say the Capital Region is beating the odds. Homes here are not losing much, if any, value - even if they are stuck on the market.

"Homeowners should be encouraged," says James Ader, Chief Executive Officer of the Greater Capital Association of Realtors. Ader says Capital District home prices stay steady because of a good economy. "State government is located here, and that's certainly very strong for us," Ader says. "And we're finally starting to see some of the buildup from the nanotech industry."

Realtors say it is important to remember this: despite the downturn in sales, we are not at rock bottom. In fact, nationally, this year is expected to be the fifth busiest in terms of home sales on record.

And for Gucciardo, even though sales are about a fifth of what they were a year ago, he is optimistic the steady market soon will turn around. "Within the next five or 10 years, I think you'll definitely see a rapid rate of growth in this area."

Source: http://www.wten.com/Global/story.asp?S=7415865