The Gazette Extra reports from Wisconsin. "Picture what happens to a loose football at the 50-yard line. That's the scene that Realtors and mortgage lenders say they're now experiencing in the Janesville housing market. The Rock County housing sector has been on the rise over the last year. But in the last three months, it has strapped itself into a rocket and is ramping up faster and climbing higher than at any time in recent history. Perhaps more significant is the skyrocketing average sale price. Average prices jumped from $129,000 in the second quarter of 2015 to $151,600 in the second quarter this year. That's $1,000 more than the average sale price for a Rock County home in mid-2007, when home sales here and throughout the U.S. reached a historic high-water mark."

"In the last three months, Rock County home sale prices have vaulted from an average of $141,000 in April to $148,000 in May. And in June, typically the heart of home-selling season, the average price rocketed up to $162,000. That's led buyers to pivot away from toe-dipping the market. Instead, they're increasingly willing to dive into bidding wars with a half-dozen or more prospective buyers competing for a single listing, said Mary Ellen Mackey, a Realtor with the Realty Group of South Central Wisconsin."

"To win bidding showdowns, Mackey said, some homebuyers have to shell out more money. 'I think buyers are aware of a lack of supply, and they're feeling a bit more pressure to grab a house before the peak market has even fewer housing options for them. It's one thing that's led to multiple offers on properties, and you're seeing prices and what people end up paying jump above what you'd think of normal price standards,' she said. 'Some buyers are really pushing their limits competing, and sometimes they're spending more than what they intended going in.'"

"And even as average prices now mirror the housing market peak of a decade ago, Chris Collins, a mortgage lender at Summit Credit Union in Janesville said he's heard no comparisons of the current market to the housing bubble of 2007. 'Maybe people are just excited to see the improvements and everyone is in denial or something,' Collins said. 'But 'bubble' is not a word I've heard anyone say.'"

Fox 17 in Michigan. " As the summer heated up, the housing market has, too. According to housing market experts, those looking to buy a home are seeing historically low inventory, increasing prices, a 12-month wait for new construction, and record low interest rates. And they say they’ve never experienced a housing market like this in Grand Rapids. This is a far cry from where we were just a few years ago, says Tom Cronkright, CEO of Sun Title. 'Something could literally list today at 4:00 p.m. and under contract tomorrow at noon,' he said. 'I can’t remember a time we had inventory move this fast.'"

"As for buyers, 'In this market, you just have to be patient,' said Amanda DeLong with Patriot Realty. 'You have to realize you will most likely be asking over asking price, and you won’t have a ton of negotiating power in regards to the inspection process. You might have to go through that offer process numerous times before you find one that gets accepted for you.'"

The Columbus Dispatch in Ohio. "The central Ohio housing market is booming, with homes selling in record time at record prices. But a close look at figures released July 21 tells a tale of two very different housing markets: a terrific market for homes up to $300,000, where enormous demand allows sellers to name their price, and a buyer's market for homes with higher asking prices."

"David Gill, a Berkshire Hathaway agent, got a clear taste of the demand last month when he listed a home in Merion Village. Even though Merion Village has become popular, Gill worried that the home might be too much on the fringe of the village to command a lot of interest. His concerns evaporated when he started fielding calls before the home was even on the market from passers-by who learned it might be coming up for sale. He listed the home for $229,900. By the end of the first day, after multiple showings, Gill had three serious offers in hand. The sellers accepted the highest one, for $235,000."

"'It’s crazy, it really is,' Gill said."

"Just north of Merion Village, it's a different story. Five homes are for sale on prestigious Schiller Park ranging from $994,000 to $2.59 million. Some have been on the market for years, and all have dropped their asking price. Theresa and Dale Marquart are learning the hard way that the market for expensive homes is small. The couple has been trying to sell their Tartan Fields home for a year."

"The 5,441-square-foot home is in immaculate condition and loaded — five bedrooms, 5 1/2 bathrooms, three-car garage, a deck and a patio next to lush landscaping. But the Marquarts haven’t gotten any traction on the home. They recently dropped the asking price for the third time, to $819,900, down from a starting price of $889,900. Their agent had warned them that the market cooled as prices rose, but the process remains 'very frustrating,' said Theresa Marquart. 'Your friends and family say, and all you hear about, is that this is such a hot market. Well, it is if you’re selling a house under $300,000. But not for others.'"

From CCTV America on Illinois. "Despite a housing recovery across most of the United States, some areas continue to struggle. House prices have not gone up as high and as fast everywhere, leaving millions of homeowners underwater or owing more on their properties than what they paid. Homeowner Donna Roop said there is a lot on her mind these days. Two years ago, she lost her lucrative job of 20 years as a sales rep at AT&T and is now struggling to keep her home."

"Now, at age 53 and with a college education, she works part-time as a pool attendant earning just over $8 an hour. To make matters worse, her house is underwater. In 2003, she said she paid $130,000. Now her house is worth around $70,000. Even she were to sell it, she would still owe the bank thousands of dollars. 'It’s been devastating,' Roop said. 'Put a lot of work into the house, money, had a lot of plans, and always wanted to have my own house. What do you do? No one is willing to help you — nobody.'"

"But Roop is not alone. Data from Zillow, a housing research firm, shows that despite the housing recovery since the 2008 crash, 12.7 percent of all properties with a mortgage remain underwater. Markets in the nation’s former industrial heartland are doing especially bad, with nearly a quarter of all underwater mortgages. Chicago has now displaced Las Vegas as the city with the highest rate of negative equity, 20.3 percent."

"Matt Laricy, managing broker of Americorp Real Estate in Chicago, said stagnant wages and higher property taxes are hitting low-income areas the hardest. 'The south and the west side of the city [Chicago] seem to only keep getting worse — more and foreclosures coming up over there even though the market is turning, compared to the downtown market that seems to be booming,' Laricy said."

"Roop’s bank refused to modify her loan four times. She’s now facing court proceedings, where, unable to afford an attorney, she’ll represent herself. 'I thought there was help out there, and there isn’t,' Roop said."