Dallas-area housing market will likely remain tight and prices will keep on rising as supply continues to fail in catching up with demand, real estate agents say.

The inventory of pre-owned homes on the market has been recorded at a two-month supply in around half of the Dallas-area neighborhoods; while a normal supply of residential properties listed for sale with real estate agents is nearly six months.

Dallas-area residential sales firm executive Virginia Cook said if a residential property was priced right, it was half sold even before it was put for sale. Cook added that a market like that one had never been seen in the past.

David Brown, the head of housing analyst MetroStudy Inc.'s Dallas office, predicted that supply of homes would remain scarce in North Texas in the foreseeable future.

Speaking on the topic, Brown said, "I'm not expecting the inventory to grow substantially anytime soon. The existing home inventory continues to be at or near record low levels."

Bedford, Colony, Carrollton, Farmers and Richardson are among the areas that have been witnessing shortage of residential properties at least since the start of this year. There has been less than a 1.5-month supply in all of the above-mentioned areas.

Shortage of houses has caused prices in the Dallas-area to soar sharply for the second consecutive year. Nearly 75 per cent of the area neighborhoods have recorded double-digit median house price gains so far this year over the corresponding period of last year.