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Barbara Corcoran says you have one month left to buy a house
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Barbara Corcoran says you have one month left to buy a house

Barbara Corcoran still thinks now is the “best time” to buy a house. But you only have one month.

The real estate expert and “Shark Tank” star posted a warning on Instagram Thursday for people waiting to enter the real estate market.

Related: Barbara Corcoran says this is the one question you should ask before selling your home

“I’m here to tell you that you have one month to buy a house,” Corcoran said in the video. “A month!”

Corcoran noted that when the Fed cut rates, everyone expected mortgage rates to follow suit, but that hasn’t happened yet. In fact, they have risen, taking many buyers out of the market.

“Everyone is on the sidelines,” she added, “taking a wait-and-see approach.”

The “market uncertainty” is caused by a lack of inventory, persistent inflation, high interest rates and the upcoming elections, causing many potential buyers to put their home buying dreams on hold. However, she said this is the time when you can “find the best deals” because there will be “someone who will take you up on an offer because they are also insecure.”

Related: ‘No problem’: Barbara Corcoran says the NAR ruling hasn’t had much impact so far

“If you plan to wait a year and see where interest rates go, you’ve gone crazy,” she added. “There are not enough houses.”

She also noted that, like this year, prices will rise another 5%.