GITNUX MARKETDATA REPORT 2024

Statistics About The Average Time To Buy A House

The average time taken to buy a house in the US is typically around 30-45 days, but can vary depending on location and market conditions.

Statistic 1

"It takes 4.5 months on average to buy a house in the U.S.A."

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Statistic 2

"The average closing time for a loan was 52 days according to 2017 data."

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Statistic 3

"In 2020, the average buyer spent roughly 10 weeks searching for a new home."

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Statistic 4

"The typical duration to get pre-approved for a mortgage is between 1 to 7 days."

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Statistic 5

"Ratified purchase contracts usually specify a closing period of 30 to 45 days."

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Statistic 6

"The average time spent viewing a house is 32 minutes."

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Statistic 7

"It typically takes the buyer 11 hours to go from deciding to purchase a home to locating the right property online."

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Statistic 8

"About 88% of buyers financed their home purchase according to the 2020 Profile of Home Buyers and Sellers report."

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Statistic 9

"Approximately 50-60 days is spent from the time an offer is accepted to the time the loan is ready to close."

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Statistic 10

"The average time for an offer to be accepted is 66 days."

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Statistic 11

"Most home sales (76%) involve a realtor, according to the National Association of Realtors (NAR)."

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Statistic 12

"It takes approximately 15 weeks on average from starting home search to moving in."

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Statistic 13

"Buyers in 2020 spent an average of eight weeks shopping for their home."

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Statistic 14

"The complete home buying process takes around 12 weeks in the best case scenario in the UK."

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Statistic 15

"It takes an average of 38 days to get a loan according to a 2021 Ellie Mae report."

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