More than one in four U.S. consumers are not aware that you can buy a house at auction, according to a new survey from ServiceLink, and yet more than 60% — including 75% of millennials — would consider doing so if given the chance.
You don’t have to think too hard about why so many Americans might consider buying homes at auction. With home prices hitting historical highs this year, many consumers see auctioned homes as a way to save money. About 70% of the survey respondents cited potential cost savings as a motivating factor for buying at auction, while more than half (57%) cited a faster homebuying process.
For millennials, the chance to save money is especially tempting.
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