“Boomerang buyers” are buyers who were damaged during the real estate collapse a few years ago and are now returning to the housing market.
Their ranks include homeowners with damaged credit due to foreclosures, short sales, job losses, and mortgage delinquencies.
Forced to rent for the past several years, those former homeowners will soon be eligible for mortgage financing again and most of them are eager to become homeowners.
A recent report, issued by TransUnion, indicated that up to 1.5 million boomerang buyers (nationally) are expected to re-enter the housing market over the next four years.
- 2016: 300,000
- 2017: 500,000
- 2018: 400,000
- 2019: 300,000
TransUnion’s report also mentioned that 5 million consumers will again be able to obtain mortgage financing in the next four years.
Our Boise boomerang buyers, combined with existing strong demand and minimal listing inventory, will contribute even more buyers to our strong Boise real estate market.