Housing markets in tech hubs are cooling more rapidly than other parts of the United States amid a wave of layoffs in the technology sector and elevated mortgage rates, according to real estate broker Redfin Corp's report on Monday.
Seattle, San Jose, Austin and Phoenix are among metros that have been affected the most as high mortgage rates, turmoil in the tech sector and unavailability of homes deter buyers, the report stated.
Redfin agents report that uncertainty around the stability of the banking and tech industries is exacerbating nerves in some buyers and sellers.
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