Owners.com Reveals Top Markets That Have Rebounded the Most from the 2008 Housing Crash
ATLANTA,
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Owners.com utilized its housing price index to analyze total gains from the post-crash minimum after
“Since the housing crisis, most cities around the country, and especially those on the
Top 20 Markets with Maximum Gain (Rebound)
The study uncovered that
- Within the top 10 markets, major cities such as San Francisco and San Jose weren’t as impacted by the crisis and
- Located within a two-hour drive from San Jose, Modesto and Merced nosedived, particularly as gas prices skyrocketed. However, both locations have made a comeback as the cost of living in
Silicon Valley has recovered and gas prices have moderated.
| MSA | Pre-Crisis Peak per Square Foot (2007-2008) |
Post-Crisis Trough per Square Foot (2009-2018) |
Percent Decrease Pre- Crisis Peak to Trough |
Post-Crisis Peak per Square Foot (2009-2018) |
Percent Increase Trough to Post-Crisis Peak |
Pre-Crisis Peak to Post- Crisis Peak |
| Modesto, CA | $200 (Jan. 2007) |
$85 (Nov. 2011) |
-57.7% | $182 (Feb. 2018) |
+114.8% | -9% |
| Merced, CA | $180 (Jan. 2007) |
$73 (Apr. 2011) |
-59.5% | $156 (Feb. 2018) |
+114.7% | -13% |
| Reno, NV | $193 (Jan. 2007) |
$97 (Jan. 2012) |
-49.6% | $204 (Oct. 2017) |
+110.3% | +6% |
| Vallejo-Fairfield, CA | $270 (Jan. 2007) |
$121 (Dec. 2011) |
-55.2% | $251 (Feb. 2018) |
+107.2% | -9% |
| Stockton-Lodi, CA | $220 (Jan. 2007) |
$98 (Dec. 2011) |
-55.3% | $202 (Feb. 2018) |
+106.2% | -7% |
| Bend-Redmond, OR | $196 (June 2007) |
$112 (Feb. 2011) |
-42.5% | $228 (Oct. 2017) |
+102.8% | +17% |
| San Jose-Sunnyvale-Santa Clara, CA | $498 (Apr. 2007) |
$365 (Oct. 2011) |
-26.7% |
$732 (Feb. 2018) |
+100.8% | +47% |
| San Francisco-Oakland-Hayward, CA | $453 (Apr. 2007) |
$300 (Nov. 2011) |
-33.7% | $580 (Feb. 2018) |
+93.0% | +28% |
| Yuba City, CA | $159 (Jan. 2007) |
$83 (Feb. 2012) |
-47.9% | $158 (Feb. 2018) |
+90.8% | -1% |
| Sacramento-Roseville-Arden-Arcade, CA | $220 (Jan. 2007) |
$121 (Dec. 2011) |
-44.9% | $230 (Feb. 2018) |
+89.4% | +4% |
| Cape Coral-Fort Myers, FL | $169 (Jan. 2007) |
$82 (Nov. 2011) |
-51.5% | $154 (Feb. 2018) |
+88% | -9% |
| Port St. Lucie, FL | $145 (Jan. 2007) |
$74 (Mar. 2011) |
-48.9% | $139 (Feb. 2018) |
+87.6% | -4% |
| Palm Bay-Melbourne-Titusville, FL | $129 (Jan. 2007) |
$71 (Dec. 2011) |
-44.8% | $133 (Feb. 2018) |
+87.2% | +3% |
| Las Vegas-Henderson-Paradise, NV | $178 (Jan. 2007) |
$79 (Jan. 2012) |
-55.7% | $147 (Feb. 2018) |
+87% | -17% |
| Punta Gorda, FL | $128 (Jan. 2007) |
$70 (Sept. 2011) |
-45.6% | $130 (Feb. 2018) |
+86% | +1% |
| Santa Rosa, CA | $346 (Jan. 2007) |
$217 (Dec. 2011) |
-37.2% | $404 (Feb. 2018) |
+86% | +17% |
| Carson City, NV | $187 (Jan. 2007) |
$96 (Jan. 2012) |
-48.7% | $176 (Feb. 2018) |
+84% | -6% |
| Detroit-Warren-Dearborn, MI | $123 (Jan. 2007) |
$71 (Mar. 2011) |
-42% | $130 (Sept. 2017) |
+81.8% | +5% |
| Phoenix-Mesa-Scottsdale, AZ | $159 (Jan. 2007) |
$81 (June 2011) |
-48.8% | $147 (Feb. 2018) |
+80.9% | -7% |
| Napa, CA | $370 (Jan. 2007) |
$218 (Jan. 2012) |
-41.2% | $392 (Oct. 2017) |
+80.2% | +6% |
Methodology
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. Analysts then examined percentage changes to this price index over the timeframe from
About Owners.com®
Owners.com is a tech-enabled real estate brokerage that handles all key aspects of the home buying and selling experience on one platform. Owners.com is a trade name of
About Altisource®
Source:
| Investor Contact: | Press Contact: |
| Indroneel Chatterjee | Lindsey Shumway |
| Chief Financial Officer | Manager, Communications |
| +352-2469-7988 | 617-728-6735 |
| Indroneel.Chatterjee@altisource.com | Lindsey.Shumway@owners.com |
Source: Altisource Portfolio Solutions S.A.