Foster Homes Report: Monthly Real Estate market update – April 2023

Maggie Foster is your Johnson County Real Estate expert.

They say timing is everything. But how does one time the ever-evolving real estate market? Especially with rising interest rates deterring home buyers from entering the summer season. We often look for clues from experts like economists or successful real estate leaders such as Barbara Corcoran, real estate real estate entrepreneur and star of “Shark Tank”.

Recently, Corcoran shared her point of view with Fox Business. She shared that sellers aren’t wanting to sell because of higher interest rates and there is a smaller pool of buyers because they are getting much less of a house than they expect. Corcoran predicts that once interest rates decrease, there will be a major change in the residential real estate market.

“It’s going to be a signal for everybody to come back out and buy like crazy, and the house prices [will likely] go up by 20%,” says Corcoran. “We could have COVID [market] all over again,” she says.