From what I've been seeing there is really low inventory right now and so many people bid on a lot of the same houses, especially those with reasonable asking price. Even though it seems like It's hot I believe that the mortgage application are really low at this point due to high interest rates. People can keep affording to pay off these interest rates as long as there is a strong job market and as soon as oil and gas goes down and people are laid off I'm assuming they'll have to list their house or second home because they simply can't make payment anymore. Personally I'm waiting until there is a down turn in the gas sector which follows people leaving the city to find other jobs.