Current home price trends are beginning to become an object of concern. It appears that a new bubble may be forming, especially in areas of the country that it did back in 2006, as well as some new areas. Of special note, homebuyers are making offers well in excess of appraised values and bidding wars are becoming commonplace again. One economist warns that it can’t be sustained. In the meantime, just under a million will only get you a two bedroom average home in Los Angeles.