At the same time, many potential buyers have been shut out of the market, because not only have sales prices climbed while inventory remains low, but credit remains tight.
The volume of sales increased by 30 percent over last year to 3,837, while inventory was down by nearly 22 percent, and the time listings spent on the market shrank by 54 percent.
The administration focused on the economic problems in front of it -- keeping the world economy on an even keel -- and didn't spend much time looking at what might happen if demand for oil picked up while inventory and production capacity were still low.
The first generation camera will continue to be sold while inventory exists, for $299.99.
"While inventory levels are starting to come down, they are still on the rise in the luxury market," says Ken Shuman, spokesman for Trulia.com.
But Merrill Lynch analyst Joe Osha punctured last week's rally in communications-related semiconductors, warning that he doesn't see an upturn in the near-term, while inventory, end-market demand and lofty valuations continue to hamper the stocks.
