Austin, once a Covid-era economic superstar, is now facing challenges with Oracle shifting its headquarters out of the city, a rise in commercial office space vacancy, and a significant drop in real estate prices.
After a 12-year streak as the fastest-growing large metro area in the US, Austin lost that position in 2023, with a 5 percentage point higher vacancy rate than the US average and an 18% drop in home prices from pandemic highs.
#austins-economy #real-estate-market #commercial-office-space #oracles-headquarters #economic-shifts
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