Buy a Home Sight Unseen? More Common Then You Think
The competitive nature of many US housing markets is driving buyers to make some snap decisions.
That includes bidding on homes before they’ve even had a chance to view them in person according to a new survey of more than 1,000 recent homebuyers by Redfin.
It found that 35% of those who bought a home in the last 12 months made a bid without seeing their intended new home in person; up from 33% a year ago. In 2016, just 19% of buyers did this.
Among young buyers, sight unseen is even more prolific with 45% making a potentially risky move.
This could be, Redfin suggests, because Millennials are more trusting of the information they find online about homes, neighborhoods, and the homebuying…