Eighty-four percent of consumers believe it’s a bad time to buy a house, according to the Fannie Mae Home Purchase Sentiment Index released last month. Between surging home prices amid the pandemic and soaring mortgage rates in response to inflation now, it’s little wonder why.
Of course, certain U.S. cities offer more affordable housing options. Although home prices have spiked at more than double the rate of income, prospective buyers can find some of the best deals in Youngstown, Ohio and Syracuse, New York, where the median list price is $149,900 and $217,250, respectively, per a Realtor.com study.
Related: Kevin O’Leary: Inflation Has ‘Downsized’ Lifestyles in U.S.