A substantial percentage of consumers who are becoming new renters are actually still in the market to purchase a home, according to a survey by Relocation.com.
Sharon Asher, Relocation.com chairman, said the survey findings suggest that more Americans are getting ready to reenter the housing market this year.
Of the 60% of individuals moving into rental properties, 24% were homeowners who are temporarily renting while looking for a new, more desirable home to buy.
Foreclosure was not the reason these former homeowners are renting. The survey found that the number of people who moved due to foreclosure dropped by 70%.
Additionally, one-third of those moving stayed in their current area, where they knew schools, shopping, and the neighborhoods.
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