Residential

Sight-Unseen in 2017: 35% of Homebuyers Bid on a Home Before Seeing it in Person

Thirty-five percent of people who bought a home last year said they made an offer without first seeing the home in person, up from 33 percent in May 2017 and 19 percent in June 2016. This is based on a Redfin-commissioned survey conducted in November and December 2017, which included responses from 1,503 people who purchased a home in the previous 12 months. This is the final issue of a three-part series reporting on the results of the survey. The first and second reports focused on politics and the housing market respectively.

Millennial homebuyers were even more likely to make an offer sight-unseen, with 45 percent in November and 41 percent in May saying they had done so. These results likely reflect millennials’ comfort relying on information they find online about homes for sale, neighborhoods they might not have visited in person and the home-buying process in general.

Read Article at Redfin.com

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