Nearly Half of June, May Homebuyers Made Bids Sight-Unseen

Redfin asked 1,400 potential homebuyers across 29 major markets, "Did you, at any point in your home-search process, make an offer on a home you hadn’t seen in person?" The May and June results found that 45% of prospective buyers answered yes. For comparison, results for this time last year were at 28%. The rise in numbers comes from the competitive market and health concerns. Redfin’s chief economist predicts this being the most popular way to purchase a home by the end of the year, and says if buyers are not bidding on houses sight-unseen, someone may very well beat them to it.

Many buyers have opted for sight-unseen offers because it feels like the safer choice as coronavirus cases continue to climb across the country, according to Redfin agents. While it’s still rare to complete the entire homebuying process without seeing the property in person, Los Angeles homebuyer Gladys Sanchez is planning to do just that. Sanchez, who lives with her immunocompromised sister, has virtually toured a dozen homes in and around the Sherman Oaks neighborhood with the help of her agent, Lindsay Katz.

“I never would have chosen to buy a house this way, but I’d rather take a risk with my home purchase than take a risk with my family’s health,” Sanchez said.

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