The current market remains a seller's market typified by high demand and low supply, in which there are multiple offers in a large percentage of sales. Listings are selling quickly, often in just days. Very infrequently houses sit on the market for longer periods of time unless they are overpriced.

Buyers have to do more in this market to prevail in their bids for houses, and sellers have to do less to prepare their homes for sale. Many more homes are selling in "as is" condition with all kinds of perks for the sellers.

How long with this market continue? Anyone's guess. It certainly won't change until the inventory of available homes for sale increases.