Puget Sound region multifamily rents grow as supply pressure eases
Despite a seasonal dip, annual rent growth remains positive
Over the past year, annual rent growth turned positive across nearly every Puget Sound area submarket. With construction slowing and demand strong, rents are now climbing across th...
Puget Sound multifamily construction pipeline shrinks to lowest level in more than a decade
Developers pull back after the region sees record increase in inventory
Seattle's apartment construction pipeline has entered a clear downcycle. Roughly 13,000 units are now under construction across 62 market-rate properties. That compares to 30,000 u...
Puget Sound region multifamily market sees tighter vacancy
Absorption surpasses completions as demand strengthens amid slowing development
Seattle's apartment market has turned a corner. So far this year, demand has outpaced new construction, and vacancy has been trending downward.
Vanishing inventory leads to faster leasing in the Seattle retail market
Time on market at a historic low for the region due to tight availability
When retail space in the Puget Sound region becomes available, it tends to lease quickly.
In the Puget Sound region, a supply surge leaves older apartments searching for renters
With renter households favoring new builds, many operators of aging assets see occupancy drop
The Seattle metropolitan area’s apartment market shows signs of divergence between newer and older assets.
Seattle apartment demand surges to meet record completions
Most newly constructed units have already been leased
From the start of 2024 through the first half of 2025, builders added more units to the Puget Sound region's apartment inventory than over any other 18-month period in the region's...
Household incomes in the Seattle area are rising faster than apartment rents
Income-rent gap supports robust multifamily demand
Seattle's apartment market has experienced dramatic shifts since the start of the decade. As demand surged post-pandemic, the Puget Sound region's record rent growth in 2021 and 20...
Long-term rent rolls offer upside for retail landlords
Seattle’s rent growth rate has exceeded national average over both short- and long-term
Seattle's retail rent growth has moderated over the past few years, but owners of properties with long-term leases have significant mark-to-market opportunities.
Industrial rents fall in Puget Sound region
Seattle logistics market stalls amid rising sublease availability
Among the nation's logistics markets, Seattle is one of the worst-performing based on both increased availability and floundering rent growth.
Seattle inflation edges higher in August
However, wage growth outpaces price increases
According to the most recent available data from the U.S. Bureau of Labor Statistics, or BLS, Seattle-area inflation hit 2.8% year over year in August, up slightly from the most re...
Puget Sound region’s office-using employment stalls as tech sector contracts
Information sector sheds 2,000 jobs in August
The Seattle metropolitan area added about 11,800 jobs over the past year, a 0.5% increase. That is according to the latest release from the Bureau of Labor Statistics, detailing ar...
Office availability flattens across Puget Sound region
The office market is beginning to see signs of stabilization, even in Seattle proper
Over the past few years, Seattle's eastern suburbs have outperformed within the region. A rising office availability rate began to level off there by 2023, even as it continued to ...
Puget Sound region sees modest uptick in retail rent growth
Despite weaker consumer spending, a tight market helps keep rent growth positive
Seattle is one of the country's tightest retail markets, supporting consistent rent growth.
As Seattle’s retail space inventory shrinks, one suburb sees outsized growth
Woodinville is the fastest-growing city in the region for space under construction
Seattle's retail inventory has undergone a prolonged yet dramatic shift. Along with demolitions and redevelopment, a modest amount of new retail development has reshaped the region...
The Puget Sound region saw little employment gain over the past year
After strong first quarter, growth in office-using jobs decelerated over past three months
The Seattle metropolitan area added about 20,100 jobs over the past year, with a deceleration in growth among office-using sectors.
Smaller deals drive retail leasing volume in Seattle
Space givebacks by large national retailers test the market for large box space
Seattle's retail leasing volume is still below pre-pandemic levels, though signs of a gradual recovery have emerged.
Larger format retail sees availability uptick in Puget Sound region
While space remains tight, large blocks of available space could test the market
Seattle's retail market has been one of the country's tightest, with an availability rate in the low single digits over the past decade. However, the market is showing signs of sof...
Downtown Seattle leads Puget Sound region in apartment demand
Central neighborhoods saw the greatest increase in renter households over the past year
Seattle's most central areas have seen the greatest increase in occupied units over the past year.
Seattle wage growth outpaces inflation
Rising incomes support strong demand for top-tier apartments
Despite evidence of a broader economic slowdown, wage growth in the Puget Sound region continues to outpace inflation.
Logistics space availability climbs across Puget Sound region
Pierce County sees the most rapid increase in available space
The availability rate for logistics space across the Puget Sound region continues to climb, reaching 14% as of July. This performance marks two consecutive years of double-digit av...