T
he US housing market remains stuck in neutral, with top real estate expert Barbara Corcoran warning that the current landscape is far from ideal for homebuyers. "We're not seeing a surge of new listings," she noted on Mornings with Maria, attributing the lackluster market to high interest rates and a dwindling supply of affordable homes.

    While mortgage rates have dipped slightly in recent weeks, Corcoran remains skeptical that this will be enough to spark significant movement in the market. "A tenth of a point isn't going to make a huge difference," she said, pointing out that 30-year fixed rates are still hovering around 6.96%, their lowest level in six weeks.

    The luxury housing market, however, appears to be bucking this trend. Corcoran noted that high-end deals are being closed at double the national average, with warm climates like California and Florida driving much of this activity. "I'm very bullish on the luxury market," she said, citing the fact that interest rates in these areas are increasing at a rate almost twice as fast as the national average.

    Despite some pockets of optimism, Corcoran remains pessimistic about the broader housing market, predicting that home prices will not come down anytime soon. "Sellers are holding out for better news," she argued, pointing to the fact that many homeowners have low interest rates they're reluctant to give up. As a result, the current stagnant market is likely to persist for at least another six months.