Are you ready to see more headlines saying Millennials are killing the real estate industry? Because as soon as Boomers hear this next stat, their heads are going to explode. A new survey from Zillow just found 39% of millennials are comfortable with buying a home that they’ve only ever seen online. That number jumps to 59% when you add “somewhat” before comfortable.
So look forward to seeing some pretty interesting HGTV shows popping up because things are trending towards future homeowners not even walking through the property before putting in an offer. Gen Z is right behind us with 36% of them indicating they’re fine with buying a home completely from the Internet. And to give you an idea of how big of a shift this is, the study found only 7% of Baby Boomers would consider buying a home completely from the web.
Surely our generations being okay with buying a house like it’s on Amazon is partially due to us growing up with Internet connection, but it’s also due in part to how much the market has changed. Currently, homes are going under contract a full four weeks faster than they did just a year before. With such a competitive market, can you really blame us for not wanting to limit our options?