"there are not enough homes for sale for buyers"

From Kathy Stankard, a Franklin based ReMax realtor:

It means that homes are selling faster than previously expected, usually around 4 months, if they are priced right. The data also tells us some other interesting things:

• homes priced under $450,000 are the most sought after price range
• there are not enough homes for sale for buyers
• homes are selling relatively close to their asking price

See the table of info that drove these conclusions here.