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Dallas homebuyers 'not afraid' anymore: Realtor

When it comes to real estate in Dallas, it's a seller's market.

According to North Texas Real Estate Information Systems, the median sales price of homes increased 4.8 percent in April from the prior year, to $180,713.

Prices are rising, but homes are selling more quickly. The average number of days on the market for a Dallas metro listing was 54 days, a 12 percent decrease from 2013.

CNBC's "Power House" spoke with Laura Barnett, a real estate agent with Re/Max DFW, to get her insight on trends in the Dallas housing market. "We have a shortage of inventory, so everyone's running after the same property," Barnett said.

Read MoreWill higher rents drive up mortgage rates? Experts argue

Dallas
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Dallas

Inventories have fallen 13 percent since last year, prompting new construction. Barnett said that several builders are starting to build spec homes.

Overall, Dallas' housing market seems to be improving as buyers feel more confident with the economy.

"They're not afraid like they were five years ago," Barnett said.

—By CNBC's Uptin Saiidi

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  • Diana Olick serves as CNBC's real estate correspondent as well as the editor of the Realty Check section on CNBC.com.

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