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  Over 60% would consider buying a home at auction
Nov 17, 2021

More than three out of every five consumers would consider buying a home at auction, according to the results of a new online survey conducted by The Harris Poll on behalf of ServiceLink.

More than 3,000 U.S. consumers weighed in on where they believe the housing market is headed in 2022 and their attitudes toward purchasing a home at auction.

Here are a few findings:

"It's not surprising that millennials are pursuing new opportunities to achieve homeownership, particularly in the current real estate market where they are facing challenges due to high prices and low supply," said Miriam Moore, president of default services at ServiceLink. "We expect that more auction properties will hit the market next year through foreclosure and buying homes at auction will become more mainstream as consumers look to buy quickly and at competitive pricing."

Potential cost savings (70%) and a faster homebuying process (57%) are motivating factors for more than half of U.S. consumers to buy a home at auction. Alternatively, not being able to see the home in-person prior to buying (66%) and not being able to get a professional inspection (62%) are factors that would stop U.S. consumers from buying at auction.

Forty-two percent of U.S. consumers say the ability to bid remotely (online) would motivate them to buy a home at an auction.

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https://nextmortgagenews.com/news/over-60-would-consider-buying-a-home-at-auction/

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