Housing market price movements under tech industry expansion during COVID-19

Abstract: This study investigates the impact of technology-based corporation relocations on housing prices during COVID-19 in Austin, Texas, and Seattle/Bellevue, Washington, focusing on Tesla and Amazon. Using a difference-in-difference (DID) method, changes in housing prices near and away from the new corporate locations are analyzed within 5-mile and 10-mile radii. Results show a positive influence of corporate relocations on housing prices post-pandemic, with Tesla’s relocation affecting prices beyond 5- and 10-mile radii in Austin and Amazon’s relocation impacting prices near the site and beyond a 10-mile radius in Seattle/Bellevue. This study integrates COVID-19 housing market conditions and corporate relocation effects, offering spatial and temporal insights into housing price variations across specified radii.