The median sales price was $300,000, an increase of +10%, while home sales declined over -18%.

So the population has continued to grow and new construction decline since 2008 and we are starting to see the aftermath of all this.

Sure there could be some really bad news which is unforeseen that causes declines, but I don't think we are seeing a bubble nor do I think we are really close to a cycle peak...yet.I guess what I am trying to say is...its not as good a time as it was a few years ago, but I expect its a better time to buy now than a couple years from now.There are some lake view properties that are pushing new lows, that is what I am interested in right now.  

It continues to decline which should make the next downturn a little less painful.

Austin Texas has great prospectus for long term buy and holds, but our ROI is declining as SALES prices are rising faster than rents.  

This is bad because if the builder started selling similar units for (X) amount and now they are being sold for less they are creating a declining market.Those new flash sales or lower priced inventory being sold for less cause the other homes to be worth less and hurt future equity or neighborhood growthThe best way to check the danger zone or look for red flags is go back and look at all of their sold homes over the last 3 years.

Furthermore, the "budgets" they've provided for the last three years are the exact same - a literal carbon copy except for the fiscal year period as a the heading.Property Decline: Condo complex (brick) was built in mid-1960's.

What happens if you decide to move/ no longer want the house and the market has declined over the next few years so you have no exit?

I am now seeing carriers decline properties with roofs older than 10 years and to Jays point above extra claims may make the policy more expensive or you may not have access to one at all with more than one claim in a 5 year period.  

High End homes and especially waterfront are for sure in decline here as are rents.