By Brian New

FRISCO (CBSDFW.COM) – Compared to a year ago home sales in North Texas are down but it’s not because of a lack of buyers.

A lack of inventory of pre-owned homes has created a seller’s market that many local real estate agents say they haven’t seen in North Texas in more than a decade.

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No place is this more evident than in Frisco.

On Sunday real estate agents Barb Glass and Sharmy McDonald of Van Poole Properties greeted potential buyers at a pre-sale open house.

With houses in Frisco often selling within hours of hitting the market, some real estate agents are finding ways to give their clients a “sneak peak.”

“It just a way for us to adjust to this crazy climate that we are in right now,” said Glass.

While sales have slowed, home values continue to increase.

With a growing family, Alpesh Petal said he is looking for a larger home in Frisco but is being cautious about getting caught in a bidding frenzy and overpaying for a home.

“We’ll buy when the property is right and the price is right– otherwise we’ll wait,” he said.

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According to the North Texas Real Estate Information Systems, home prices in North Texas are up 7 compared to this last year – a slower increase than a year ago when home values rose by double digits.

(©2014 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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