Barbara Corcoran highlighted the increase in home sales and buyer choices due to more market availability, while noting that buyers have grown accustomed to current mortgage rates.
Corcoran stated that a drop in mortgage rates to the 5% range would significantly invigorate the housing market, predicting that anything starting with a 5% would create a surge.
The National Association of Realtors noted that first-time buyers are older than ever, with median ages rising due to high interest rates that affect younger, less-established buyers.
Corcoran expressed concern about the challenges for younger buyers entering the market and emphasized the need for lower interest rates to stimulate housing activity.
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