The new housing crisis is so bad that a growing number of buyers are rushing to bid on places they've never seen

Redfin's Greg McCarriston, who authored the report, said this was partly because the younger demographic tends to have more faith in what they see when shopping online. "Demand is relentless despite all of these headwinds homebuyers should be facing in terms of low inventory competition and high prices," Cheryl Young, a senior economist at Trulia, told Business Insider.

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