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4 Homebuying Trends on Their Way Out, According to Real Estate Experts

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Trends come and go in real estate. Here’s a look at some of the biggest trends that are on their way out (and in some cases, good riddance).

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Needing 20 Percent Down on a Home

Ultra-low mortgage rates are converting renters to buyers sooner than later, and they don’t have to put as much down to get those mortgages.

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A survey reported that 53 percent of millennials are willing to put down less than 15 percent, while Gen Zers are willing to put down 3 to 5 percent. 

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Skipping the Weekend Open House Circuit

In the age of social distancing, these veritable house parties morphed into more subdued walkthroughs by appointment only.

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Seeing a House in Person First

With virtual tours, purchasing homes quickly and remotely is more common for even everyday folks.

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Signing Stacks of Physical Papers

Cutting down on paperwork is about convenience. Nowadays, many buyers want all-digital closings from online notaries to digital mortgages. 

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Buyers and sellers can expect more of the transaction to be online instead of in-person moving forward.