Puget Sound sees early momentum in office leasing after pullback in 2025
Large commitments point to a potential rebound after a quieter year
The Puget Sound office market ended 2025 with lower leasing volume compared to 2024. CoStar has recorded about 6 million square feet of new office leases signed last year, about a ...
New multifamily forecasts show slower rent growth, higher vacancy for the Puget Sound area
A slowdown in job growth and immigration is impacting demand
CoStar's most recent forecast for the Puget Sound apartment market strikes a more cautious tone than earlier iterations.
Puget Sound multifamily market sees modest seasonal rent growth in January
With shifting demand momentum, long-term gains have slowed
Preliminary monthly data for the start of 2026 reinforces the slower momentum that the Seattle metropolitan area experienced in the second half of 2025. January was the first month...
Puget Sound office sales experiencing uneven recovery
Activity returns to the Eastside as Seattle seeks its footing
Since 2023, office sales volume in the Seattle region has grown faster than that of other commercial property types, but its overall sales volume is still below pre-pandemic levels...
Population growth cools in Washington State
Increase in moves from other states last year not enough to offset decline in international migration
With a pullback in international migration, Washington State’s population growth slowed in 2025.
Seattle vs. Boston: Here's how these Super Bowl contenders match up on real estate
Property market face off features gateway tech hub and life science center
On Sunday, the NFL's Seattle Seahawks face the New England Patriots in Super Bowl LX, marking a repeat of the Super Bowl matchup of 2015. This year, the Seahawks and the Patriots e...
State-to-state migration data shows a positive shift for Washington State
The Evergreen State saw population growth through domestic relocations in 2024
In 2024, Washington State gained nearly 18,000 more residents than it lost through state-to-state moves.
Following years of strong inflows, Montana’s net domestic migration has softened
Domestic migration slowed to near zero net change in 2024
Montana saw little population growth from domestic migration in 2024.
Seattle labor market softens as job losses spread
Employment supporting office and logistics demand posted declines in 2025
The Seattle metropolitan area experienced a notable decline in employment in 2025.
Puget Sound multifamily rent growth stalls as demand cools
Easing construction could lead to a modest recovery in 2026
With an overhang of new supply and slowing job growth, multifamily rent growth in Seattle decelerated in 2025.
Speculative builds account for most new logistics space in the Puget Sound region
Developers are constructing additional facilities despite a lack of secured tenants
As of the start of 2026, the Seattle region ranked ninth nationally for speculative development as a share of total industrial construction. Projects that are underway without sign...
Apartments lead the Puget Sound investment recovery
The region sees an increase in commercial property sales for the second straight year
Seattle's commercial sales market is showing signs of a rebound. Overall sales volume remains below its most recent peak but is starting to move back toward historic pre-pandemic n...
New logistics supply has an outsized impact on industrial vacancy in the Puget Sound region
Speculative development drives logistics vacancy to a record high
Vacancy continues to move higher among Seattle logistics properties.
A slower apartment pipeline will reduce competitive pressure in the Puget Sound region in 2026
The number of units under construction is at its lowest level since 2013
Seattle’s multifamily construction pipeline is retrenching after a period of robust growth.
Seattle apartment demand varies by building style
Mid-rise properties lead the way as garden style falls out of favor
Apartment demand across the Seattle metropolitan area remained resilient in 2025, with absorption — the net change in occupied units — totaling roughly 9,400 units for the year. Wh...
The Puget Sound industrial market faces a 2026 reset
Stalling rent growth and elevated vacancy create a tenant’s market
Seattle’s industrial market heads into 2026 with record availability and its weakest rent growth since the Great Recession. With a persistent supply overhang and slack demand, tena...
Will Seattle’s retail market tightness hold in 2026?
The region's availability rate is among the lowest nationally
Seattle has consistently been one of the nation’s tightest retail markets over the past few years, with availability rates consistently in the low single digits. However, the regio...
Forecast sees continued weakness in the Puget Sound office market
Seattle’s office market vacancies are expected to remain elevated in 2026
The Seattle region’s availability rate for non-owner-occupied office buildings peaked at 23% in the first half of 2025 before experiencing a modest recovery through the last half o...
Seattle apartment market poised for a vacancy decline in 2026
New construction is expected to slow faster than demand
After ending 2025 with its highest vacancy rate since 2009, the Puget Sound apartment market should see a modest decline in vacancies in the coming year, according to CoStar’s late...
Outlook weakens for apartment rent growth in the Pacific Northwest as demand slows
Pullback in new construction not enough to offset weaker job growth in the region
Apart from Portland, Oregon, which ended the second quarter with flat annual rent growth, apartments across the majority of the Pacific Northwest posted rent gains through the firs...