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Buyers often wonder how long it’ll take to find the perfect home, so they can plan when to start their home search in earnest.
Well, according to the National Association of Realtors®, the short answer is that it typically takes about 10 weeks for a buyer to find a home, based upon the most recent data. That might sound like no time at all, or it could seem like an eternity, depending upon how urgently you need to find a home.
The reality is, buyers often take as much time as they have to work with. For example, if you’re not in a rush and time is on your side, you might take way more than 2.5 months (even over a year!) to find a place. On the other hand, if you need your home search to be as quick and concise as possible, there’s a good chance you’ll do what it takes to keep the time it takes to a minimum.
Unfortunately, there’s no way to actually predict how long it’ll take for you to find the perfect house, because there are a lot of factors to consider. First and foremost, it really depends on the current market conditions. For instance, if there are a lot of houses for sale in the areas and price range you’re looking in, and not that many other buyers competing for those homes, you’ll have a lot more control over how long it takes to find a home you want to buy. But if there aren’t that many homes for sale, and there are a lot of other buyers competing for them, then your home search may take even longer than 10 weeks.
However, while you can’t control supply and demand, there are some things that often cause buyers to prolong their home search, which you do have control over and can be avoided. So, in order to make your home search as efficient and stress-free as possible, here are 5 things to be aware of when searching for a house to buy:
While you can’t control supply and demand, or overall market conditions, those five things will certainly help keep the time your house search takes down to a minimum.
The Takeaway:
According to the most recent data, it takes around 10 weeks for homebuyers to find a house. While supply and demand often impacts how long it takes a buyer to find a home, there are some things buyers can do (or avoid doing) in order to keep the time down to a minimum, such as:
- Knowing the areas they’re interested in ahead of time.
- Knowing what to expect in their price range, in terms of the size and condition of homes.
- Not wasting time looking at houses above their price range.
- Going to see houses as soon as they’re listed.
- Making strong offers right away.
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