Wall Street Journal reported that the low inventory became a new issue in the housing market. The number of homes for sale nationwide fell for the fourth straight months in September to the lowest level of the year. Here is the link to the full article: http://online.wsj.com/article/SB10001424052970204774604576631381117760982.html
Silicon Valley housing market has been going through lower inventory for a while. Cupertino, Santa Clara and Sunnyvale only have three months inventory for Single Family Residences and the investory for common interest development (such as condos, town houses) are even below three months.
