Time invested for home purchase remains major

CHICAGO – How many houses did you view before making a purchase? In 2014, the typical home buyer took a tour of 10 homes before making an offer, and searched for 10 weeks, according to the National Association of Realtors. That was about two weeks faster than in 2013.
Other statistics in its “Characteristics of Home Buyers and Sellers” report: the average age of the first time homebuyer was 31, while the move-up buyer was typically 53.
Existing homes continue to dominate the national market. They made up 84 percent of the recent home sales, with new construction lagging behind at 16 percent.