that prompted the chief economist for national associatn of realtors to predict prices could surpass the peak set in the last housing boom. but is that a healthy thing? diana olek reports. >> reporte there too few hoemts for sale put thing pressures on prices. median price, $228,700. compare to the highest monthly price in july of 2006, t the housing boom 230,400, just 1700 bucks more. the realtors chief economist, however, says we e not in a housing bubble. >> demand keeps the bubble but demand can't continue to rise if prices continue to rise. >> rep it is a tricky argument to make. it is not a bubble there's so much demand even though at some point, buyers won't be able to afford what they want. >> right now we are in a mismatch but not a condition where prices would come down because of the housing shortage. we have more supply it will lead to attaining home price growth. the argument goes if home builders ramp up production morselers put homes on the market all will be well. may beat sales expectations up 9% from a year ago even amid higher prices. >> we are not in a bubble but