In the Tampa market the median home price has increased 18% over the last year and interest rates have bumped along considerably.
We have higher inventories, but our market has grown by 60,000 residents in the last year.
At the end of the day... the 2005 buyer has a payment about 20-30% lower than the 2006 buyer on a typical home in our market.
Sellers (and their brokers) can't simply put a home on the market and watch it disappear anymore. It is much more of a balanced market today.
http://media.living.net/releases/May%2006%20Sin%20Fam%20Ex%20Chart.html