Once you navigate through the housing market, mortgage rates and competition among buyers, you may be left with a feeling of uncertainty. However, “Shark Tank” host, money expert and all-around real estate guru Barbara Corcoran says if you’re looking to purchase a home, you should do it now.
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Last year, interest rates for real estate hit a 23-year high. The real estate mogul said in an Instagram Reel that this news is pushing more buyers to the sidelines in an attempt to wait it out. Here’s why buyers should be brave and prioritize buying a house now.
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Why Buyers Shouldn’t Stay Put
Corcoran stressed that what makes now the best time to buy a house is that “everyone is scared.” Though it sounds bad, this could be good news for buyers as it affects everything from existing home sales to supply and demand to even determining the best time of year to fork over a down payment.
A much more frightening aspect for buyers out of the market to consider is what the market might look like if interest rates do drop again. While Corcoran said the days of 2% to 3% interest rates are effectively gone, she also added that interest rates will come down.
“The minute [interest rates] drop and come to anything with a five in front of it, the whole world is going to jump back into the market,” said Corcoran.
Lower interest rates, however, present a few issues when buying a home. The first is that there will be no houses available to buy, and the second is that home prices will go up as soon as they hit the market, with Corcoran predicting a 10% or 15% price increase. As of June 2025, current mortgage rates are generally in the 6% to 7% range for 30-year fixed-rate mortgages, averaging about 6.81%.
If you don’t take Corcoran’s word for it you could also factor in that in the early months of 2025, mortgage rates dropped, which can create a little more relief and wiggle room in your housing budget. Despite that fact, the housing market is less than booming thanks to other economic uncertainties like tariffs, global trade, pending resurgence of inflation, rumors of recession and the stock market’s performance moving forward.
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3 Tips for Homebuyers Currently in the Market
For buyers who are brave enough to be in the current real estate market, Corcoran recommends following these three tips.
This doesn’t have to be your forever home. The home you buy now can be traded up later, according to Corcoran.
Your budget won’t go as far as it used to. Instead of looking at the added cost of a house or a mortgage, Corcoran said to figure out how much the mortgage payment is and to ask yourself if you can afford that.
Don’t forget to shop for the best possible rate. “People don’t do this,” said Cororan, adding you can start by reaching out to your bank to see if they have any special customer discounts.
Caitlyn Moorhead contributed to the reporting for this article.
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This article originally appeared on GOBankingRates.com: Why Barbara Corcoran Says Now Might Be the Best Time To Buy a House
