U.S. home prices are on fire and sales are skyrocketing. Here are 8 rules of thumb for buying a house in a hot housing market when there are multiple bidders over the asking price.

Topics covered include:

• What are the latest metrics on U.S. home sales, prices, and valuations
• Why are homes sales increasing and prices soaring and how likely are they to fall
• Why David is buying a different house (again) in a hot housing market
• What are rules of thumb that can help us find the right house without paying too much

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