Barbara Corcorans Advice: Now Is the Best Time to Buy a House Despite Market Uncertainties
As you navigate the complex landscape of the housing market, with ever-changing mortgage rates and fierce competition among buyers, it can be overwhelming and uncertain about your next move. However, Barbara Corcoran, the host of "Shark Tank," a renowned money expert, and a seasoned real estate guru, believes that now is the best time to purchase a home.
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Last year, interest rates for real estate hit a 23-year high, pushing more buyers to the sidelines in an attempt to wait it out. Corcoran explains why buyers should be brave and prioritize buying a house now. "Everyone is scared," she says, but this fear can actually work in buyers' favor as it affects everything from existing home sales to supply and demand, even determining the best time of year to make a down payment.
Corcoran stresses that now is the best time to buy a house because "everyone is scared." While this may seem like bad news, it can actually be good for buyers as it affects the market dynamics. She also warns that if interest rates do drop again, there will be no houses available to buy, and home prices will go up as soon as they hit the market, with a predicted 10% to 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.
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 ask yourself if you can afford that.
