Is it still a buyer's market?

There is a lot going on with the Real Estate market right now. From first time home buyers trying to get into the game fast before the tax credit expires to making sure of taking advantage of the low interest rates before it goes up.
There seems to be a lack of inventory to take care of all these buyers. Thus causing multiple offers on properties. Buyers are finding they are loosing out because they are not offering full price. It is still hard to believe that the market has changed that much where they have to offer full price or above full price to get the house. We're hoping this continues after April and the market continues on the busy cycle.