The last few decades have seen some significant shifts in how Americans make the transition from homebuyer to homeowner. This year, technology played a critical role in moving the closing table into the digital realm thanks to more states passing RON laws and other states granting emergency use of video/audio conferencing to notarize closing documents.
In 2020, 63% of homebuyers made an offer sight-unseen. Recognizing the growing trend, Realtor.com announced its investment in more immersive 3D home tours.
While we’re still years away from an end-to-end digital real estate transaction becoming the norm, the pandemic has accelerated the development of digital solutions to find and purchase homes, but the foundation began much earlier.