RealTown's RealTalk

One sure-fire way to learn if your local housing market is heating up is to check out the number of home sales attracting multiple offers from buyers. When offers increase, there is usually a corresponding increase in buyer demand and sales activity. This leads to higher prices and tighter inventories. Ultimately, shortages of product are created in local markets.

A recent survey conducted by HouseHunt.com found that Bank-Owned Foreclosures are at a record high, but inside market data indicates shortage of inventory. HouseHunt.com's Mike Bearden takes a look at current market conditions in markets across the country as reported by HouseHunt members in select markets.

"Inside market data indicates a shortage of inventory even though bank-owned foreclosures are at a record high. Plus, home sellers who have lost part or all of their equity due to falling prices the last three years are not willing to compete with distressed property sale prices created by short sales and bank foreclosures."

Read the full article on RealTown.com. And, as usual, let us know what you think.