Million+ Boomerang Buyers about to Enter Market

by Hilton Head Real Estate Partners January 29, 2016 0 comments
Home Buyer Resources, Home Seller Resource, Real Estate Update

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What Impact will Boomerang Buyers Have?

TransUnion recently released the results of a new study titled The Bubble, the Burst and Now – What Happened to the Consumer? The study revealed that 1.5 million boomerang homeowners that were negatively impacted by the housing crisis could re-enter the housing market in the next three years.

TransUnion defined “negatively impacted” as…

“…those who were 60+ days past due on a mortgage loan, lost their mortgage through foreclosure, short sale or other non-satisfactory closure, or had a mortgage loan modification between the Bubble and Burst.”

Other interesting findings in the study:

  • During the mortgage bubble in 2006, 78 million consumers, or 43% of credit-active consumers in the U.S., had a mortgage
  • More than 8% of these consumers were “impacted”
  • 5 Million consumers will again be eligible for a mortgage in the next four years

Here are the numbers of consumers who will meet mortgage guidelines over the next four years:

Boomerang Buyers Re-Entering The Market | Keeping Current Matters

Bottom Line: If you are a family that experienced the impact of the last housing crisis, now may be the right time to again buy your own home.

If you are interested in where the Bluffton / Hilton Head Island real estate market is going? Give Jo Anne or Tony Rizza (843-301-5825) a call to better understand the current market, see the latest available properties, or to list your own home!

With over 25 years of experience, our team is ready to help!

Hilton Head Real Estate Partners
Partnering with you every step of the way.

by Hilton Head Real Estate Partners January 29, 2016 0 comments
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