This is pretty much what some of us have been saying. As sdr said, alot of it has to do with seasonality. Some of it also has to do with demand and an improved local market. Some of it also is a supply side issue.

There is a post about the foreclosure tsunami and lack thereof.

Also the continuation and even growth of the current govt manipulation of the market with regards to what would be distressed supply will continue. In fact there was another announcement today just about that.

Get used to it. (the manipulation that is). Supply will grow as sdr said.