By Daily Mail (U.S.) | Created at 2025-03-15 16:51:40 | Updated at 2025-03-15 21:59:51
5 hours ago
Millionaire real estate mogul, Barbara Corcoran, revealed the biggest problem new homebuyers are facing is the uncertainty in the market and the lack of homes.
The Shark Tank star, 76, is encouraging homebuyers to just snap up a property when they can because the uncertainty of the market won't get any better.
'The biggest problem is there's just not enough housing to go around,' she told Fox Business. 'Everybody wants a house and there's just not enough housing.
'There's great uncertainty, and uncertainty is bad for business. Uncertainty makes people pause, which is a problem.'
Corcoran, whose net worth is around $100million, said uncertainty is causing American suppliers to 'hoard lumber because they're afraid of tariffs' and more.
'A lot is going wrong, but the biggest tenant that's going wrong is, people are uncertain. They don't know what to expect next, and uncertain people don't move forward,' she told the outlet.
Another issue with the housing market is homeowners are hanging onto their homes for longer because of their low four percent interest rates.
'What the real problem is, is an interest rate that's holding people back, of course. But more than two-thirds of Americans have four percent interest rates. Why would you sell your house?' she questioned.
Millionaire real estate mogul, Barbara Corcoran, revealed the biggest problem new homebuyers are facing is the uncertainty in the market and the lack of homes. 'There's great uncertainty, and uncertainty is bad for business. Uncertainty makes people pause,' she said
'Why would you move? You have [a] four percent rate. That's really the blanket holding.'
The average 30-year mortgage will set homebuyers up with a 6.67 percent interest rate and only a mere seven person who apply for a mortgage actually end up buying a home, Fox Business found.
The average home costs have gone up 4.2 percent compared to a year ago, which is the slowest growth since December 2021.
However, Corcoran recommends people take the risk and buy a home.
'Go for it,' she said.
She suggested prospective homebuyers buy during spring break, as people are too preoccupied with other activities.
'Houses are undersold in that week,' she told Fox Business. 'Nobody's around to sell those houses.'
She also encouraged homebuyers to roll up their sleeves and purchase a fixer upper as financing is 'readily available' for that.
Another issue with the housing market is homeowners are hanging onto their homes for longer because of their low four percent interest rates. However, April is a good time to sell
However, the best time to sell your house - and maximize your profit - is just around the corner, according to new data from Realtor.com.
The best time for sellers to benefit from the ideal balance of market conditions in 2025 is between April 13 and April 19.
If 2025 follows the previous seasonal trends, sellers should be able to make $4,800 more on their home that week compared to an average week.
They should also be able to make $27,000 more than at the start of the year, as fewer people are buying in January and homebuying tends to pick up as the year goes on.
Sellers should also be able to sell their home nine days faster, according to the analysis, and see more buyers on the market compared to the beginning of 2025.
'Spring is typically a good time to list your home, and at a time when policy changes and economic turning points create questions and uncertainty, it can be helpful to focus on what we do know,' said Danielle Hale, chief economist at Realtor.com.
'Very predictably, homes listed in the spring tend to be priced higher and sell faster than the average week throughout the year. While tariffs and inflation continue to be concerns that could dampen buyer and seller confidence, harnessing the seasonal trends in real estate is a proactive way to navigate what's ahead.'
