Decades-high inflation leading to interest rate hikes, weak consumer demand and the possibility of an economic slowdown have forced big tech firms such as Amazon.com Inc and Meta Platforms Inc as well as banks to trim their workforce.
Layoffs in the tech industry, concentrated largely in the Bay Area and Seattle have led to some buyers bowing out of their search for a home or cancelling contracts, Shelley Rocha, a Redfin manager, wrote in the report. 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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