Not sure about the rest of the country, but for the last month or so in my area its been looking like the year 2004. People are bidding up houses. A house near me is currently pending for a price 20-30% higher than it would have got 3 months ago. (I'm in Northern CA) I was looking at another house today that they listed it for sale back in may, but a few weeks ago they raised the price by 35% (apparently alot of offers must have come in, because I can't see why they would raise their price that much.) I'm just wondering if any of you in real estate are noticing this rapid housing run up in your areas too.