Starting in 2006, over 7 million homeowners went through short sales or foreclosures. In 2015, 350,000 homes were sold to return buyers. According to the National Association of Realtors, up to 1 million consumers have restored their credit, and 2.2 million consumers are expected to restore their credit in the next five years. That means that there will be up to 2.2 million buyers coming back into the market over the next five years.
In spite of going through a foreclosure, nearly all of these consumers say they want to buy a home again. They see the value of owning a home; after all, if you’re going to pay a mortgage, it might as well be your own.
Ultimately, the boomerang effect has given us a very strong market right now. If you have questions about this video, or about your home value, please give me a call or send me an email. I’d be happy to help you!
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