As Austin's job market continues to thrive, the demand for housing in the area has experienced a significant upsurge. The influx of tech companies such as Apple, Google, and Facebook establishing a presence in Austin has led to a surge in high-paying job opportunities, attracting a steady stream of professionals to the city.

This influx of professionals has created a higher demand for housing, resulting in increased competition and rising prices in the real estate market. Neighborhoods in close proximity to major employment centers have seen particularly high demand, with bidding wars becoming increasingly common.

Furthermore, the COVID-19 pandemic has accelerated the trend of remote work, allowing individuals to relocate to Austin without being tied to a physical office. This has further fueled the demand for housing in the city, as individuals seek out more space and favorable living conditions.

References:

• Forbes - Austin, Texas Is The Most Popular Market For Millennial Homebuyers
• Austin Business Journal - Austin's housing market competition at 'frenzy' level