Report: Foreclosed-on homeowners may return to market | Las Vegas Review-Journal

A Tuesday report from a national real estate research firm ranked Las Vegas No. 1 for its share of boomerang buyers — homebuyers who experienced foreclosure or short sale in the downturn but are set to purchase again.

It’s a segment that will make up more than a quarter of the city’s potential single-family homebuyers from 2015 through 2022, California-based RealtyTrac said. With such a large portion of the market, boomerang buyers could have a big effect on Southern Nevada’s real estate climate for much of the next decade, as long as lending and pricing factors cooperate.

“It’s similar to how a lot of people look at how millennials will really impact the future of the housing market,” RealtyTrac Vice President Daren Blomquist said. “It’s not going to make or break the market, but the market is better served if boomerang buyers do become homeowners again in larger numbers.”

via Report: Foreclosed-on homeowners may return to market | Las Vegas Review-Journal.

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