Where is all the inventory?

How many of you have plenty of buyers, but nothing to sell them?  The Los Angeles market is seeing rapid appreciation due to the fact that there are multiple offers on almost every decent listing.  My last few offers were competing against 15+ offers on each property.  Frustrating to find a great house for a client, get them excited and then burst their bubble when their offer is not accepted.  Sellers sitting on the fence need to wake up and take advantage of this unique situation and capitalize on this upswing!