Running Water in the Tub
DMAR's April market report came out last week. It mentions that "inventory in this market is like a bathtub with an open drain. The water flowing out of the faucet is a new listing and the remaining water in the tub is standing inventory. Just because there isn't a lot of standing water doesn't mean that a lot of houses were not put on the market that month."
This is a good analogy. As of April 30, there were 2,594 homes available, but over 5,088 sold for the month. Half of those 5,088 homes sold in 4 days or less. WOW.
So if you've got your eye on a house, but it sells in 2 days... don't worry! There's always another house. But remember, that drain is open so you have to be ready to act quickly.