Foreclosure not a Factor in Relocation

photo credit: theloushe

In the last couple of years we have all felt the economic downturn in some fashion, and some have felt it worse than others. There have been a lot of people moving this last year; many of these relocations are due to a foreclosure. However, the latest survey shows that foreclosures are not a factor in relocations. We all like to hear good news these days, especially with the lack of it we find, or dont find.

We all know on a personal levels that the job market is very closely related to the housing market, we are starting to hear a little good news there as well, as sparse as it may be. In February 13 percent of survey respondents said they were moving due to a job loss, but that number is down to 4 percent in June.

The recession hit everyone so quickly and dramatically that we are all a bit shell shocked, and getting over that shock is a little time consuming, but it looks like we are starting to climb out of our shells and look around. The previously mentioned survey showed that 18 percent of movers in June were pervious home owners, that number is up form 12 percent in February.

12 percent were previous renters planning to purchase a home for the first time. We are starting to move around again, getting settled may take some time, but I think were on our way.

Read the full article form RealtorMag

Posted on July 09, 2010 13:48:27 by Blog Author