Invesment

Virtual Home Tour Requests Increase Nearly 500% Amid Coronavirus

As the coronavirus upends the buying process, house hunters are increasingly relying on Redfin’s virtual technology for viewing and closing on homes. 

Redfin saw a 494% increase in requests for agent-led video home tours last week, following an 80% increase the prior week, as homebuyers began relying heavily on virtual viewings amid the coronavirus outbreak. As of yesterday, 18.9% of tour requests made on Redfin.com were video-chat tour requests, up from 0.2% at the beginning of March—a 94-fold increase.

Along with live video-chat tours, prospective buyers can see the inside of nearly any Redfin-listed home with three-dimensional scans, powered

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Stuck at Home? Get Your House Ready to Sell in 6 Steps

Trees and flowers are beginning to bloom, birds are jubilant with song, and you’ve noticed these things only because you’re most likely sitting at home in isolation. If you were thinking about selling your home before this whole coronavirus (COVID-19) scare happened, luckily, you still can. In fact, the current state of the US housing market shows that homebuyers still want to buy houses. They are simply shifting to a more virtual homebuying experience, including live video-chat tours. So, even if you’re feeling kind of isolated from the rest of the world, now is at least a great time

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National Housing Data Methodology – Redfin

Introducing the new national & regional metrics

Redfin releases data on a variety of housing indicators each month on our Data Center. Most of the data for these metrics come directly from the local Multiple Listing Services (MLS). Additionally, a handful of metrics are verified with public records data. Historically, all of Redfin’s housing metrics were first calculated at the county and metropolitan division level, then a weighted average (by the number of home sales transactions) was used for each month to derive the national estimates.

As of February 2020, Redfin actively imports data across more than 145 MLS

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Before the Coronavirus the U.S. Housing Market Was Stronger Than Ever

Home prices rose 7% in February from a year earlier, their largest gain in nearly two years, as the supply of homes for sale fell 8%.

During the month prior to the U.S. coronavirus crisis, U.S. home-sale prices increased 6.6% year over year. In February, the nationwide home price median rose to $293,700 and home prices were up 2.8% month over month on a seasonally-adjusted basis. While the U.S. economy and housing market is currently in great flux as a result of the COVID-19 pandemic, it’s important to look back at the February data to see how robust the market

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Live video-chat tours will keep you house hunting

 

It’s difficult being a homebuyer these days. Buying a house is already tricky, but add on a global pandemic that’s closing stores and locking down countries, you probably feel like it’s impossible to move forward with buying a home – let alone touring one.

Luckily, your house hunting doesn’t have to stop. With live video-chat tours, a Redfin Agent will take you on a live virtual tour of a home you want to see while giving you an in-person perspective. If you want to avoid the risk of being exposed to the current outbreak or you’re just planning on moving

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