Last month, the Austin area saw the ink dry on more than 3,000 sales contracts of pre-owned homes — the most in a single month in Central Texas’ housing history. The feverish pace, driven by high demand and low housing supply, has some experts wondering if the local housing market and home prices are at or near a peak for the current real estate cycle.
After all, as real estate appraiser Curt Friedland told me recently, “The Austin real estate market and the Dow have something in common. They are both at an all-time high. Nothing goes straight up forever. Nothing.”
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