Homes that do hit the market are flying off the shelf with many fierce bidding wars from desperate buyers. This creates a hot seller's market due to excess demand and low supply. Local real estate agency CCR Realtors says just this week a local home that hit the market had seven offers within the first two hours. Rising inflation has housing prices up at least 30% in our area, but the extra cost and rising mortgage rates don't seem to be phasing the hungry market as of now.