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Fournier Law Blog

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Boomerang Buyers Look to Re-Enter Housing Market

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Millennials are not the only group expected to keep realtors busy this year. Those who lost their homes to foreclosure during the housing crisis are expected to rejoin the housing market in 2015, according to a new CNN Money article. Dubbed “boomerang buyers,” this group of more than 7 million potential homebuyers will be eligible to qualify for a mortgage again between 2015 and 2022. RealtyTrac estimates that half a million of those boomerang buyers will seek to once again become homeowners as early as this year. Chicago is among the top markets where boomerang buyers will look to purchase. Las Vegas, Atlanta, and several cities in California and Florida are also on this list.

To learn more, read the full article.

Image credit:  Mark Moz

 

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