How we buy homes has undergone a significant transformation in the past year. Newly released data that shows a record number of recent home buyers made an offer on a home without having ever visited it in-person, instead attending virtual tours and online meetings. The numbers, from an online real-estate portal, show 63 percent of buyers who purchased a home last year made an offer without having seen the property. That’s up from 32 percent one year earlier and 45 percent in July 2020. So what’s driving the trend? Well, mostly it’s the COVID-19 pandemic.
COVID Restrictions Induced Virtual Tours
The virus caused us all to change the way we do things, including buying a home. After its onset, home buyers became more comfortable using technology like virtual home tours to further explore listings that caught their eye online. It also meant more Americans working from home, which lead home shoppers to look for houses in areas that weren’t as easy to get to for an in-person walk through. The combination of pandemic, technological advancement, and remote work means an increasing number of us have had to – or have chose to – take our home search virtual. Although there is still not enough data to predict whether or not this trend will continue once the pandemic subsides. Follow the link for more information.
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