Real Estate

Dallas homebuyers 'not afraid' anymore: Realtor


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

Snapshot of Dallas Real Estate

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.

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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