Tech Boom, Then Layoffs, Leave Lasting Mark on Austin Housing Market

New reports show that tech worker migration and mass layoffs have pushed Austin’s once-heated housing market toward balance.

A home for sale in Austin, Texas, on March 19, 2024. Brandon Bell/Getty Images

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.