When All Seems Lost in Real Estate, Buffalo Makes Top Ten?

I read an article this morning on Buffalo Rising stating that real estate in the Buffalo Metro Area is on the rise. I was slightly skeptical, only because we were one of the cities in the country that did not experience the burst of the bubble because our home prices have not gone up more than 2-4%. But Buffalo Rising states that CNN Money has listed Buffalo/Niagara region as one of the top ten fastest growing real estate markets currently. Also on the list was Rochester and Syracuse, putting 3 upstate and western new york cities on the list.

My theory is that because the Buffalo/Niagara region has been at a steady real estate price growth for years, that we catch the eye of real estate investors. Investors currently do not want to invest in neighborhoods where home prices have fallen or foreclosures are at risk or eminent. They want to invest in areas where risk is low, prices are stable and climbing and neighborhoods are solid. After thinking about it, I am not so skeptical anymore, Buffalo is a great place to invest in real estate. Lets just hope that this does not lead to our own local real estate bubble!