Nearly Half of Recent Homebuyers Made an Offer Sight-Unseen

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According to data from a Redfin buyers survey, almost half (45%) of recent homebuyers made an offer on a home without ever seeing it in person.  Redfin says this is the highest level since 2015 and is being fueled by health concerns from the pandemic as well as a continuing shortage of available housing.  In fact, they expect these “sight-unseen” offers to grow.  Indeed…

“I predict that by the end of the 2020 homebuying season, the majority of homebuyers will have made a sight-unseen offer…The pandemic has changed the way many people view homes, and on top of that, the market is highly competitive. If you aren’t using this strategy, another buyer who is could beat you to the punch.”  Said Redfin chief economist Daryl Fairweather.

Click here to read the full report on Redfin.com.

 

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Director of Education & Outreach, National Real Estate Investors Association

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