Current state of your market (fall '13)
Lots of anecdotal talk of a real estate bubble developing, institutional investors heading for the exits, and calls for an imminent slowdown, if not a double dip from the talking heads and those that like to provide their unsolicited opinion on such things. Of course, the standard "real estate is local" caveats all apply but I don't think there is much argument that the rapid (and unsustainable) appreciation from earlier in the year is gone, replaced by a slow grind higher (?).
What is everyone seeing in their markets? Is demand noticeably softening? Days on the market up? Or are things still rocking and rolling? Obviously your mileage may differ since flippers aren't necessarily looking for full retail price, while buy-and-holders may be, but curious to hear different viewpoints.
Personal impression: properties continue to fly off the shelf in the "hotter" areas, but the "lukewarm" to "cool" spots are slow-to-fairly-dead. In my neighborhood ("lukewarm" - stable, older neighborhood), listings are noticeably up, some of the nicer house are moving, if well-priced, but other houses are sitting. sellers definitely don't appear to be making a killing.
If there is a major inflection point coming, BP and its membership should presumably see the signs coming well before the mass media and economists that depend on monthly reports with significant lag.