In November, home sales in Cedar Park and Leander have dropped to 204, a 44.4% decrease compared to November 2021, according to Austin Board of Realtors data.
Jessica Lautz, deputy chief economist and vice president of research at the National Association of Realtors, said despite the shortage of housing stock, the market is still on track to normalization.
“We have to remember that the housing market is local,” Lautz said in the ABoR press release. “As millennials age in and senior adults stay in place instead of relocating, people are facing this short housing stock, and it’s becoming an increasing issue.”
Leander and Cedar Park combined had a total of 673 active listings in November, which is more than triple the number of active listings both cities had in November 2021. In November 2021, the cities together had 204 active listings.
