I believe this is true, especially if the price point is below 300K. You feel like you hit the lottery if you can get one under contract! You are always competing, and they are always going for close to the asking price or above.
From: http://www.realtor.org/RMODaily.nsf/pages/News2010022302?OpenDocument&WT.cg_n=RMO&WT.cg_s=RSSDaily
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