If there’s one word that sums up the last five years for the housing market , it’s “eventful.” From a once-in-a-lifetime global pandemic to shifting weather patterns, these seismic changes have played out in real estate, causing some markets to flourish, and many to plummet.
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Below is a list of six housing markets that have fallen drastically in the last five years.
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Austin, Texas
In the early days of the pandemic, Austin seemed like a city that had everything going for it. In 2022, 64 companies moved headquarters or operations to the Texas city, and development soared as 50,000 new residents moved in between 2022 and 2023, continuing Austin’s streak as one of the country’s fastest-growing cities.
“After the pandemic, it felt like Austin really was built overnight as tech companies like Oracle moved in,” said Alex Blackwood, CEO and co-founder of the real estate investment platform mogul .