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Home prices increase, sales decrease in Western New York

November saw home prices go up and sales go down in Western New York.

November saw home prices go up and sales go down in Western New York.

The Buffalo News reports home sales in the Buffalo-area moved down in November, while home prices increased.

Sales of homes in the region continue moving down, as they declined 26 percent in November from 12 months earlier, the newspaper said. The sales in November matched the lowest levels for the month since 2005.

Philip L. Aquila Jr, president of the regional Multiple Listing Service, told the paper he thinks the housing sales have "bottomed out," adding, "We're not going to set the world on fire, but we're not going to go backwards in 2011."

According to the paper, active listings on the market in Western New York spiked 6 percent, and the average sales price for November increased 9 percent, from $125,427 one year earlier to $136,866.

The Buffalo Niagara Association of Realtors states 647 housing units closed in November of last year in the Buffalo-area, a 26 percent decrease from the same month in 2009. The median price for homes closed in November was $116,000, up from $112,500 in November 2009.