Existing Home Sales Spike:

Sales of homes that have been previously occupied (the largest segment of the housing market) jumped up to 5.35 million units in May, easily topping the consensus estimates of 5.25 million.  This was a 5.1% gain over April's data.

The median home price jumped up 7.9% from the same period last year.  The median price was $228,700 and marks the 39th consecutive month of gains.

Lawrence Yun, NAR chief economist, says May home sales are now at their highest pace since November 2009 (5.44 million). "Solid sales gains were seen throughout the country in May as more homeowners listed their home for sale and therefore provided greater choices for buyers," he said. "However, overall supply still remains tight, homes are selling fast and price growth in many markets continues to teeter at or near double-digit appreciation. Without solid gains in new home construction, prices will likely stay elevated — even with higher mortgage rates above 4 percent."

Looks like the seller's market will continue for this summer.

Buyers get creative in Sellers market:

MADISON, Wis. - As a blossoming housing market continues to grow in Madison, home buyers are coming up with more creative ways to get their foot in the door.

"If you're waiting to find them on an Internet portal, you're probably 24 hours too late," Restaino realtor Michelle Ames said.

Ames said the housing demand far outweighs the supply, which requires home buyers to try nontraditional ways of securing a new home.

Ames has taken to the mailboxes to help out her clients. She sends out hundreds of personalized letters that detail why her family would be the perfect fit for that particular home. The letters are sent to houses that may or may not be for sale but fit the family's needs.

Betsy and Brian Hood had Ames send out letters to help them find a home. The premise of their plea was their 11-month-old daughter, Britton.

"This could be the place she takes her first steps, say her first words. It might even be the place she's picked up for her first date," the letter reads. "This home is where Britton and her mommy could create a lifetime of memories."

The Hoods were skeptical at first, but they eventually decided the letter personalizes their home-buying experience.

"We don't want to just be pushed aside with different offers," Betsy said. "We want them to know who we are and why we really like this house."

Letters are just one way realtors are reaching out to potential sellers who haven't put their house on the market yet. Some are using postcards, personal ads and even door-to-door pleas to persuade owners their home might be perfect for someone else.