Florida Sails On

As the Orlando Sentinel reports, people are pretty excited in Florida. "The market is moving so fast, they [appraisers] can't keep up with it," said Greg Pingston.

"The situation has led to behavior not frequently seen in the housing market, "People are buying new homes before they sell their old house,..They're confident their old house will sell."

Rising interest rates aren't as important as cash flow. "Many buyers are more concerned about finding something to buy, not rates," said Dan Dunn. Grant Simon "sees interest rates as becoming less of a problem, 'It's not about rates, it's about monthly payment.'"

"We've started looking at real estate as the gold standard."said Rod Rawlings, real estate broker.