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ยป VISIT US ONLINE @ DSNEWS.COM 17 THE EVOLUTION OF THE WEST COAST HOUSING MARKET e housing market on the West Coast has seen the biggest price swings over the past decade. is, according to a study by Owners.com, which looked at the top 20 markets to have rebounded the most in the 10 years following the 2008 housing crash. For the study, Owners.com built a monthly housing-price index using median historical sale values for single-family homes by metropolitan statistical area (MSA), accounting for changes in housing stock and seasonality. Utilizing this index, it analyzed total gains from the post- crash minimum after January 2009 to the post- crash peak (any moment in time up to February 2018). e comparison was based on the average price per square foot MSAs. e study found that markets on the West Coast saw the biggest rebound over the past decade, led by California cities that have seen the maximum swings from a post-crisis trough to a post-crisis peak. "is is likely due to market desirability and increased competition for a limited supply in recent years," the study indicated. "Since the housing crisis, most cities around the country, and especially those on the West Coast, are seeing increased competition for a limited supply, which has created a favorable situation for sellers and a competitive market for homebuyers," said Kevin Karty, VP, Enterprise Data for Owners.com. Topping the list were the Golden State cities of Modesto and Merced, where prices rose from their lows of $85 and $73 per square foot in November 2011 and April 2012 to $182 and $156 per square foot, respectively by February 2018. Coming in third was Reno, Nevada, which saw a rise from $97 per square foot in January 2012 to $204 by October 2017. California's Vallejo- Fairfield and Stockton-Lodi rounded off the top five cities to have rebounded postcrisis. e study indicated that on average, home prices in the top 10 markets increased 103 percent from their lowest price since January 2009 to their postcrash peak price; in the top 20 markets, home prices increased 93.9 percent. Florida and Michigan were the only two East Coast states to be in the top 20 markets.