Existing home sales are down but new home sales surged beyond expectations. In her latest TV interview, Brown Harris Stevens CEO Bess Freedman gave a breakdown of the disconnect on CNBC.

"Housing is a long-term investment. You're not trading many times like you do with stocks ... even though rates are up, you can probably negotiate with the seller a bit more." — Bess Freedman

Watch the full interview above. To learn more about Bess and her background, click here.