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The Boomerang Home Buyer Is Coming Back To The Housing Market
Posted by The Cascade Team Real Estate on
Boomerang Buyers Are Returning To Purchase Homes In Phoenix
Tears still spring into Debbie Cooley-Guy's eyes when she considers her dream house, with its broad, sweeping porch. It ignored a bayou filled with wading birds, a glittering blue pool and the space for not only a 12-foot Christmas tree, but a grand piano too. She purchased the house in a suburban area west of Tampa for $637,000 in 2002. Seven years later on, after the economy tanked, she sold it for less than she owed on her home mortgage to prevent repossession. She remembers the black minute when she was still caring for the lawn but not living there. A falling branch tore down an outdoor staircase railing.
"It made your home appearance so sad. I was so sad," stated Cooley-Guy, 60. "I…
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The question is whether prices are following the housing market's return to pre-recession conditions. New July numbers from RL Brown Housing Reports show existing home sales up 22 percent in July from last year. New home sales were up 10 percent in July vs. July 2014, and allows for brand-new house construction were up 55.5 percent. Year-to-date, new home building permits are up 39 percent versus 2014 and existing house sales are up 13 percent.
