More Boomerang Buyers Are about to Enter the Market

We previously informed you about a study conducted by TransUnion titled, “The Bubble, the Burst and Now – What Happened to the Consumer?” The study revealed that 1.5 million homeowners who were negatively impacted by the housing crisis could re-enter the housing market between 2016-2019.

Recently, HousingWire analyzed data from the US Bankruptcy Courts and revealed that 6 million Americans will have their bankruptcies disappear off their credit reports over the next five years and that this could “possibly send a flood of more homebuyers into the housing market.”

The chart below shows the total number of bankruptcies filed by year in the US over the last 10 years. The light blue bars represent over 3.3 million people who have already waited the 7 years necessary for their reports to no longer include their bankruptcies.

How would this “send a flood of more homebuyers into the housing market”?

As the article mentioned, in 2010 the number of chapter 7 bankruptcies increased to nearly 1.14 million. Now, 7 years later, they will begin to fade from credit histories, enabling prospective buyers to become homeowners again once their credit scores improve.

As we can see from both reports, the homeownership rate has the opportunity to increase drastically over the next few years with all of these boomerang buyers returning to the market.

Bottom Line

If your family was negatively impacted by the housing bust, here is the light at the end of the tunnel! You may be able to purchase your dream home faster than you think!  Give me a call to set up a no cost / no obligation informative meeting about purchasing your dream home today!  J.P. Cook – 602-320-4253.

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9555 E Raintree Drive Scottsdale, AZ 85260

New

$460,000

3 Beds

2 Baths

1,509 SqFt

Status Active

MLS # 6692236

Property Type Apartment

Price Type --

Second floor corner unit in an excellent Scottsdale location! The gated community of Ladera Vista is conveniently located near restaurants, shops, and much more! A spacious home with lots of natural light! Updated with newer vinyl floors in the family room and office/third bedroom, newer stainless steel appliances in the kitchen, and not one, but two covered patios to relax on. Primary and second bathroom both have updated vanities and fixtures. When you're not inside, take advantage of the heated community pool and spa all year long!

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7746 E Olla Avenue Mesa, AZ 85212

New

$460,000

3 Beds

2 Baths

1,438 SqFt

Status Active

MLS # 6692471

Property Type Single Family Residence

Price Type --

Welcome to your dream home! Nestled in a prime location with convenient access to the 202 and 60 freeways, this property offers both accessibility and charm. Two tone paint throughout home. Step into the beautifully updated kitchen, featuring a quartz island, new shaker cabinets, and a stylish backsplash—a chef's delight! The spacious dining area with a fire place is perfect for hosting gatherings. Spacious Master suite and beautiful bath to retreat for relaxation. Outside, the low-maintenance backyard boasts a built-in gazebo, ideal for alfresco dining or unwinding. Experience comfort, convenience, and modern living in this Mesa gem!

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6734 E Rosedale Street Mesa, AZ 85215

New

$460,000

3 Beds

2 Baths

1,500 SqFt

Status Active

MLS # 6693557

Property Type Single Family Residence

Price Type --

This move-in ready gem offers 3 bedrooms and 2 baths, awaiting your personal touch to make it your own! Nestled in a prime location close to schools, shopping, walking trails, entertainment, and with easy freeway access, convenience is at your doorstep. Outside, the backyard oasis beckons with an extended patio adorned with pavers, mature landscaping and garden.

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18475 W Sunrise Drive Goodyear, AZ 85338

$460,000

4 Beds

2 Baths

2,563 SqFt

Status Active

MLS # 6550951

Property Type Single Family Residence

Price Type --

BEAUTIFUL!!!!!! DONT MISS IT!!!!!!!!!!4 Bedrooms + Bonus Room, Kitchen has Granite Counter Tops, Built Microwave ,Dishwasher, Pantry, Fireplace for those cold winters , Dining in Kitchen , Formal Dining Room ,Living Room with Laminated Floor, 3 Bedrooms, Master Bedroom , has separated exit ,Full Bathroom, Double sink, Private Toilet Room , Spacious Wak-in Closet, Shower and Tub , includes additional space that can be used as a nursery room or as an Office, Laundry Room, Double Sink on 2nd Bathroom, Garage with a lot of Cabinets for storage, Back yard ready for your unique and beautiful ideas.

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