Comp One Blog - Your Local Expert!

November 13th, 2023 2:00 PM
The first time I heard the band U2, it was the concert film "U2 Live at Red Rocks: Under a Blood Red Sky".   It was playing on a tiny TV in the Stratosphere Skateboard Shop on Cheshire Bridge Road.  Me and my little skater dude buddies were transfixed.  It didn't hurt that the owner and his pals (all guys in their early twenties) were talking up the band.  At the end of the show The Edge and Adam Clayton swap guitar and bass for the song 40, and the members of the band slowly leave the stage as the final refrain "How Long To Sing This Song?" is sung.  

"How Long To Sing This Song?", indeed.  That is a good question when it comes to mortgage rates.  Last week brought small relief with rates falling a bit, but the golden handcuffs of historically low interest rate mortgages are still keeping sellers put while at the same time increased rates are still stifling buyers.  It's Supply and Demand 101, with the number of homes for sale decreasing and median sale prices going up.  

Here's a nice snapshot of the number of homes for sale in the Lakeside High School District since January 2020 on a rolling basis (each data point is 12 months of activity).   

The graph is almost exactly the reverse mirror image of the sale price median, also on a rolling basis.  

How long to sing this song?  We are all wondering.  

Contact Comp One Appraisal Services today and put our local expertise to work for you.  Based in the Globe Building at Peachtree Dekalb Airport, we're the perfect resource for attorneys, agents, homeowners, and lenders.  Thanks for reading! 

Posted by Cameron Horne on November 13th, 2023 2:00 PMLeave a Comment

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