(CNN Spanish) – One thing is clear so far: the US economy is not going through its best moment, against the backdrop of inflation that is running at its fastest pace in 40 years. Consumers face this situation in various sectors, such as energy or housing.
In the housing sector specifically, there are some signs that this market will stabilize soon, eg home inventory growth and some price drops.
Despite these encouraging indicators, the sector is still setting records by historical standards. Mortgage interest rates have risen more than 2.5 percentage points this year, and rents have continued to rise. The rise in mortgage costs has changed the landscape for many potential home buyers. As a result, home sales have fallen year-over-year in recent months.
In a Fannie Mae survey of homebuyer tendencies, 79% of survey respondents said this is a bad time to buy a home.
If you’re still venturing into buying or renting a home despite this context, here we tell you where it’s most expensive so you can make a better decision, according to data from Zillow and Realtor.com.
With reporting from Anna Bahni, Omar Jimenez, Chris Isidore and Ramisha Maarouf on CNN.