We just paid about 12% over ask for a house in Virginia. We were competing against 20 other offers in a 48 hour window. Hopefully this will continue when we sell our existing in 2-3 months.
My son made an offer for a house in Redondo Beach, California (actually agreed to their price) and was upstaged by (he said) money from China.
He said the Chinese had been 'snapping up' every thing in the area.
I read a few months back that anyone in China who has money is getting it out of there. Seems to be some truth to that.
My neighbor, who is married to a Chinese woman from Nanning, China, just paid $250,000 for a condo there. (I just said congratulations and nothing else)