At the end of June, nearly 2,200 homes were listed by real estate agents in Dallas-Fort Worth, which marks the area’s largest housing inventory in almost four years. However, most of these homes were not affordable for millennials and first-time buyers who need low-to-moderately-priced housing, according to the Dallas Morning News.

The majority of available homes are in the $300,000-and-up range. Compared to a year ago, about 700 fewer homes are listed below $250,000 according to data from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems.

Since 2012, home prices have surged more than 50 percent and inventories have been in short supply. While the new inventory reflects a jump in available homes, it is still only a 2.5-month supply of median-priced houses. On the other side of the spectrum, however, the current inventory includes a 12-month supply of high-end homes listed at $750,000 and more. 

In some ways, the market is adjusting itself. Instead of buyers standing in line to put the highest offer on homes, some houses are staying on the market longer and prompting sellers to lower the asking price. But plenty of buyers are paying full price, and sales remain above average.

In Dallas Morning News comparisons, sales are higher in over two-thirds of D-FW neighborhoods, and prices increased by double digit percentages in nearly half of North Texas. Areas with the largest year-over-year sales rise run the gamut from North Dallas and the Park Cities to Duncanville and Wylie. Moderate-value neighborhoods in South East Dallas, Mesquite, and Duncanville show some of DFW’s biggest annual increases.

When low to moderately-priced houses hit the market, buyers are urged to move quickly because those deals are scooped up fast. 

"Anything under $400,000 is still flying off the market," Scott Schueler with Keller Williams told the Dallas Morning News. "There is no more cheap housing in Dallas-Fort Worth."