realestate

Amazon Layoffs Hit Real Estate Market

Real estate market feels Amazon layoffs' impact; homeowners and buyers scramble to handle fallout.

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mazon’s recent mass layoffs are already rippling through the real estate scene, as homeowners and prospective buyers scramble to adjust. KIRO‑7 interviewed two local agents whose clients were among the affected. They report a surge in inquiries about selling or abandoning home searches. “We’ve been receiving calls nonstop since the early morning,” said Adriano Tori, a Bellevue broker and CEO of RexMont Real Estate, who has 20 years of experience navigating downturns. “This scale of job cuts is unprecedented in recent memory.” Tori explained that many laid‑off Amazon employees are weighing options: renting out their property to offset lost wages or selling to relocate in search of new employment. “For the next few months, the market will lean toward buyers,” he added. Compass broker Adam Hestad offered a tempered view. “Amazon’s layoffs were a shock, but the market has weathered similar storms before,” he said. He recounted a client who halted a house hunt after a layoff, noting that the ripple effects extend beyond housing. “The numbers—14,000 layoffs—are stark, yet each statistic represents a real person or family.” Hestad believes any turbulence will be short‑lived. Regarding price impacts, Tori predicts the steepest declines will hit homes priced between $1 million and $2 million, while more modestly priced properties should remain relatively stable.

Amazon layoffs hit U.S. real estate market, sparking job cuts.