The aftermath of Austin’s tech boom in the COVID-19 pandemic era, and the layoffs that followed, are still reshaping the Texas city’s housing market, according to a new report.
During the COVID-19 pandemic, an influx of tech workers created an unprecedented spike in housing demand that sent sales and property values soaring, according to a report released on April 20 by Homes.com.
The Austin real estate market hit its all-time peak in 2022, with a median sold price of $555,400. The surge was driven in part by some of the country’s highest-profile tech employers—including Tesla, Apple, and Amazon—which either relocated headquarters or expanded their presence in the area to take advantage of Texas’s favorable tax environment….