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Buffalo Business Report -Wednesday, August 7th 2013



Supply and demand will never be easier to explain.  A greater supply of mainly suburban hotel properties has led to a decreased demand - in the form of a drop in occupancy rates for Erie County.  Smith Travel Research reports June occupancy rates fell off 3.3% to 76.4%.  The year-to-date numbers are off 1.7% compared to 2012.

The June housing numbers for Buffalo-Niagara went the other way.  According to the Buffalo Niagara Association of Realtors, mid-year sales totals were up 5%.  There were 208 more closings through the first six months of 2013 compared to last year.  At the same time, median prices remained the same, at $130,000.

A recent spate of orders for Batavia's Graham Corporation total $10 million.

Synacor revenue dropped from a $1.2 million profit for last year's second quarter to a $600,000 loss this year.

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Topics : Business_Finance
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Locations : BuffaloErie County
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