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US: In lucky housing markets, bidding wars are back

Posted on 13 April 2012

Bidding wars, absent from most parts of the U.S. residential market since 2006, are making a comeback, from Seattle and Silicon Valley to Miami and Washington, D.C. Nationwide, the inventory of homes hovers close to a six-year low, while an increase in jobs and record affordability tempt buyers.
The number of contracts to buy previously owned homes jumped 14 percent in February from a year earlier, the National Association of Realtors reported on March 26………………………………………..Full Article: Source

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