According to Metrostudy data, Cedar Park and Leander are undersupplied with homes, and Metrostudy Austin Regional Director Vaike O’Grady said homebuilders are reacting to that demand.

From the first quarter of 2015 to the first quarter of 2016, Cedar Park and Leander west of Toll 183A saw 1,396 lots ready for construction, 986 homes started and 931 houses closed. From the first quarter of 2016 to the first quarter of 2017, 1,506 lots were ready for construction, 1,490 homes were started and 1,137 houses closed.

There were 904 homes available in the first quarter of 2017, and O’Grady said the supply of homes could be sold in 9.5 months. She said Metrostudy usually expects a region’s home supply to sell in about 25 to 30 months.

“So that means that the market is undersupplied,” she said. “We also don’t have enough lots on the ground.”

O’Grady said the number of lots being delivered annually is increasing, and she has started to see a higher rate of building activity in the region.

“Basically, builders are reacting to that lack of supply that’s currently on the ground and adding a lot more new activity,” she said.