The roughly 116,000 San Diego County residents whose homes went through a short sale or were foreclosed on during the Great Recession are starting to buy again.
According to The San Diego Union Tribune, these boomerang buyers – people who lost their homes during the recession but own again – are becoming a larger part of the local market.
Boomerang buying is increasing nationwide. Data from the NAR show that out of 9.3 million homeowners who underwent foreclosures between 2006 and 2014, 1 million of them purchased homes again, and 1.5 million of them will become eligible in the next five years.
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