Much like work, school, and socializing, home searching and buying went online in 2020, and it looks like the trend is sticking.

Millennials represent the largest group of homebuyers in the United States, even though they’re much more likely to have lost work or have entered the gig economy because of the pandemic. These two things make it tough for them to qualify for a home loan. Couple that with high prices and low inventory and it seems almost impossible for millennials to become homeowners.

The good news is, despite the challenges they face, millennials do have one valuable tool at the ready that puts them in a good spot during these uncertain times: they are tech savvy.

The increased pressure on the market has been coupled with widespread adoption of tech tools that allow buyers to not just browse real estate but also apply for loans, finalize deals, and even have documents notarized, all while social distancing from their sofas.

Some first-time buyers have resorted to online shopping after becoming frustrated with traditional methods of house hunting.

According to the NAR, 63 percent of buyers who found their house online in November and December went on to make an offer on a home they hadn’t seen in person, and monthly views of 3D walk-throughs online are up more than 500% since February 2020.

And it wasn’t just buyers who were quick to adapt new technology. Real estate agents who saw most of their open houses shut down during the pandemic have been quick to embrace new outlets as well, with many offering virtual tours and using tools like TikTok and Instagram to help market a home.

Are you looking to become a homeowner in 2021? There are lots of ways to make that happen. Give Metrowest a shout today – we’d love to walk through your options!