Barbara Corcoran says now is the 'right time to buy' a home

The real estate mogul explains why waiting for interest rates to drop could mean missing your chance to find the right home.

Transcript

00:00From my perspective, it's always the right time to buy the house because prices have traditionally always gone up.

00:05People are hesitating because of interest rates.

00:07But the real reason people are hesitating right now is because people don't want to sell their house.

00:12Two-thirds of America have interest rates under 4%, and that's why the market is choked.

00:17And there's just not enough listings to go around.

00:19I think if interest rates were to lower a little bit, maybe another point, we would have an incredible housing market.

00:25Thank God people aren't putting their homes on the market so much because it's helping house prices continually go up.

00:30Some people believe that interest rates are going to go up.

00:32Some people believe that they're going to come down.

00:34But what you should be doing is focusing on the most important thing, finding a house, because it ain't easy.