Home prices will 'go through the roof' as soon as rates come down a single percentage point, 'Shark Tank' investor Barbara Corcoran says [Business Insider]
Anywhere Real Estate Inc., (HOUS)
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Source: Business Insider
The "Shark Tank" investor is anticipating a wave of buyers coming to market once rates fall one percentage point. Buyers waiting for rates to come down may wind up paying more in the end, she warned. Mortgage rates are edging closer to a "magic" number that will cause buyers to rush back to the market and send home prices soaring, according to real estate mogul Barbara Corcoran. Speaking to Fox Business Network on Wednesday, the "Shark Tank" star and Corcoran Group founder warned of a coming surge in home prices once mortgage rates edge closer to 6%. Borrowing costs falling to that level could drive prices up 8%-10%, she predicted, as there are hoards of prospective buyers who are waiting for rates to come down before entering the market. "If rates go down just another percentage point — that's what I'm hoping for by year-end — prices are going to go through the roof," Cocoran said. "Everyone's going to charge the market. And so if you wait for interest rates to come down a
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HOUS
News
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- Anywhere Real Estate Inc. (NYSE:HOUS) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- A Connecticut home with a private FAA-approved airstrip and hangar has hit the market for $2.9 million. Take a look. [Business Insider]Business Insider
HOUS
Earnings
- 4/25/24 - Miss
HOUS
Sec Filings
- 3/19/24 - Form ARS
- 3/19/24 - Form DEFA14A
- 3/19/24 - Form DEF
- HOUS's page on the SEC website