The Real Estate market here is absurd. A woman I work with went to look at a new hosuing edition, one where they are building like 160 units. She signed up on the list to buy one, along with almost 2000 other people! Another person I work with closed on his house in November, his floorplan then cost around 190,000, and the same floorplan now is at 224,000. But the best one is the other woman I work with, she bought a house in Southern Highlands for 170,000 last July, and a house of equal size and all has already sold in the development for almost 280,000! Most NEW houses here are appreciating at about 3-6% a month... And its just getting worse...... we measure our new housing supply in hours, not days or weeks like other cities. I work as a City Planner, and believe me this place is red hot as far as housing goes, its mostly due to people buying up these homes as investments right now along with many SoCal people buying and pushing up the costs....