Digital Real Estate: 10 Statistics That Prove Blockchain Can Help The Real Estate Sector

1. Real estate is a scammers paradise

There was an 1100% rise in reports of Business Email Compromise (BEC) scams involving real estate transactions and a 2200% increase in reported monetary losses.

By keeping all transactions on one platform backed by the blockchain, real estate transactions could become more secure and transparent.

2. Prices just keep going up, up and up

In Q1 of 2022, the median house price had risen to $429,000, making real estate exposure a distant dream for many.

By removing middlemen from the equation using blockchain technology, you could save up to $30,000 in fees for a home of this value.

3. Fraudsters no more!‍

In 2021, mortgage application fraud was evident in 1 out of 120 applications. Using technology such as smart contracts, mortgage lenders could build code that quickly scans applications for fraudulent information, saving hours of work time.

4. Boomers had it good

In 2021, just 42% of millennials at age 30 were homeowners, compared to 48% of Gen Z and 51% of baby boomers when they…