Preliminary June numbers (not all the sales in June are recorded yet) demonstrate that the recent several months increase of home sales continues. Single family home sales suggests have topped anything we have seen, even going back to 2004. A lot of homes are receiving multiple offers, particularly in the affordable home tier below $200,000. This is not just anecdotal info from real estate agents as you can see the manifestation of what is essentially a silent auction process in homes selling over the list price. Thirty five percent of the single family homes sold last month went for greater than list price. In the past year, sellers, mostly banks, were chasing the market downward. Now they are getting in front of the market and many homes go into a contingent or pending sale status within less than a month. While pending home sales dipped slightly, the amount of contingent sales indicates that the next couple of months should continue to see strong sales.