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...
Seattle leads the nation in office rent declines as vacancy rises
Record availability creates pressure on rents
Seattle's office market continues to grapple with significant challenges, recording the slowest rent growth among the nation's largest markets over the past year.
Vacancy rises in Seattle's small-bay logistics segment
Smaller properties in the region not immune to a local downturn
Since the end of 2022, Seattle's logistics market has experienced a significant increase in vacancy, rising from 4% at the end of that year to approximately 9% today, a level not s...
Revised third-quarter data show weaker apartment demand in the Seattle area
Puget Sound region experienced largest quarter-over-quarter demand decline nationwide
Seattle multifamily demand was outpacing new construction, and the region's vacancy rate appeared to be heading for a decline. However, new data reveal a precipitous drop in demand...
Seattle labor market weakens as logistics and tech pull back
An employment downturn raises questions about the region’s recovery
While a federal government shutdown has delayed the September 2025 employment report, the latest release from the Washington State Employment Security Department provides an update...
Seattle region sees commercial property sales momentum
Inflation-adjusted sales volume still remains below pre-pandemic levels
Sales activity in the Puget Sound region has gained momentum, with investment activity rising even as it remains below pre-pandemic levels.
Seattle’s medical office market holds steady as the broader sector struggles
Limited new development keeps medical office availability tight
The Puget Sound region’s medical office market continued to show resilience through the third quarter of 2025, maintaining a tight vacancy rate and modest rent growth, while the br...
Health care construction industry leaders rethink the future of medical spaces
Developers adapt to evolving demographics and technology
At an October healthcare real estate conference in Seattle, industry leaders agreed that medical spaces must evolve beyond their institutional roots. Across six panels, themes emer...
Amid shrinking occupancy, signs of stabilization emerge in Seattle's office market
Removal of listings for demolitions and conversions should ease market pressure
The Puget Sound office market continues to work through a prolonged reset.
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...