Virtual tours may be all a home buyer needs these days

In the era of Zoom for work, school and family connects, it makes sense that the virtual platform would extend to American’s home shopping experiences as well. According to a new survey conducted by Rocket Mortgage, three out of five home shoppers say they are willing to purchase a home after only viewing it virtually.

Virtual tours, a step-by-step 360 view of a home’s interior, has grown in popularity during the pandemic. The survey found them to be more helpful to buyers than pre-recorded video tours or panoramic photos. Even as restrictions due to the coronavirus have let up, buyers are still interested in viewing properties in this way.

Respondents to the survey cited an ability to view more homes and keep it convenient as the top perks to virtual home buying.

Meanwhile, conforming no-point 30-year fixed mortgage rates are averaging 3.75 percent and 15-year rates are near 3.125 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via, social media (#AramcoReport), or over the phone at (877) 700-0942 and your questions may be featured in an upcoming article.