About 27,000 homes were listed for sale with real estate agents in North Texas, 35 percent less than the record 41,647 listings in 2007 and the lowest number since 2001, according to statistics from the Real Estate Center at Texas A&M University and North Texas Real Estate Information Systems.

“Since sales have maintained a fairly consistent level, the inventory measure is down under five months, which would normally indicate a very strong sellers’ market,” said Center Research Economist Dr. Jim Gaines.

And it's not just existing homes that are down in number. The Dallas Morning News reported that around 3,000 finished vacant new homes are in the DFW area. That's about a fourth as many as in 2007.

source:  Dallas Morning News