Between 2006 and 2014 nearly 9.3 million homeowners in the U.S. were either foreclosed on, did a deed of lieu of foreclosures, or did a short sale of their home, according to a recent report by the National Association of REALTORS (NAR). Here in Missouri, there were 158,000 foreclosures or distressed sales during that same period.
According to the NAR report titled “Return Buyers” Many Already Here, Many More to Come”, almost one million (950,000) of the 9.3 million people that lost their home, or did a distressed sale, have already likely purchased a home again, however an additional 1.5 million return-buyers will likely purchase a home in the next five years. In Missouri, NAR estimates that 21,000 of the 158,000 homeowners that lost their homes in foreclosure, did a deed in lieu or short-sold their home have already purchased another home, however predicts that there are 30,000 more in Missouri that will be a return buyer from now until 2023.
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