TECH LAYOFFS TANK SEATTLE LUXURY HOME SALES

Seattle's luxury real estate market is contracting sharply as major tech companies reduce headcount. The three giants—Microsoft, Amazon, and Meta—have collectively eliminated thousands of positions in recent months. Real estate data shows the cuts are directly impacting home sales in the region's premium segments, where tech workers typically concentrate their purchases. Luxury homes priced above $1 million have seen the steepest declines. Agents report reduced buyer activity and longer listing times, as high-income earners delay major purchases amid job market volatility. The Seattle market remains resilient compared to other tech hubs, but the trajectory is downward. Median prices for luxury properties have also softened, with some listings seeing price reductions after months on the market. Real estate professionals expect conditions to stabilize only if tech hiring rebounds. For now, the layoff wave continues to ripple through one of the nation's most expensive housing markets.