More Homebuyers Bidding on Homes Sight Unseen
Thirty-five percent of homebuyers last year said they made an offer on a home sight-unseen, up from 33 percent in May 2017 and 19 percent in June 2016. These findings are based on a Redfin-commissioned survey conducted in November and December 2017, which reviewed responses from 1,503 homebuyers who purchased their homes within the previous 12 months.
Out of all groups, millennial homebuyers were the most likely to make an offer sight-unseen with 45 percent in November and 41 percent in May reporting that they had done so. People who are unable to tour a home right away because they are busy or are relocating are turning to online tools like Redfin 3D Walkthrough and FaceTime®. In addition, there is also a vast array of reviews, statistics, maps, and articles online that buyers can use to explore a home and its surrounding neighborhood.
Los Angeles, Calif., San Diego, Calif., San Francisco, Calif., Chicago, Ill., and Austin, Texas were the top five cities in which buyers say they were successful in making an offer on a home they had not seen in person. In Los Angeles, 57 percent of respondents who bought a home last year said they made an offer without viewing the home in person first.
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