Puget Sound region’s total employment growth improves in 2025
Manufacturing and construction employment drop
The Seattle region continued to see employment growth year over year in February.
Logistics availability hits record high in Puget Sound region
Both new construction and shrinking demand contribute to the increase
Seattle saw one of the largest jumps in industrial availability last quarter, with construction and shrinking demand contributing to the trend.
Industrial construction elevated in the Puget Sound region
Builders continue to focus on larger facilities
The industrial space under construction in the Puget Sound region is at its lowest level in about five years. Space underway is about half of the peak level reached in 2021. Even s...
The Puget Sound accounted for most of Washington State’s population growth last year
Over a longer period, rural counties saw faster growth
In 2024, the Evergreen State saw its greatest population growth in years. According to recent data from the U.S. Census Bureau, Washington State added more than 100,000 residents l...
These areas are the Puget Sound’s most dynamic for multifamily construction
Some of the most active neighborhoods saw largest drops in activity over the past year
As of the end of the first quarter, Downtown Seattle and Redmond are among the Puget Sound region’s most dynamic areas for apartment construction.
Puget Sound multifamily rent growth shifted positive in the first quarter
An overhang of supply led to the slowest increase in years
Preliminary first-quarter data shows that the average apartment rent in the Seattle metropolitan area grew slower in the first quarter than it had over the past few years. Easing v...
International migration drives Seattle’s population growth
Moves from other countries account for an increasing share of new residents
While the Seattle metropolitan region continues to see net domestic outmigration, in-migration from other countries has more than offset that trend, according to new data released ...
Puget Sound among the top regions for population growth last year
Strong population growth last year could help explain a surge in apartment demand
In 2024, Seattle’s population growth accelerated. The region added nearly 67,000 new residents, according to new data released by the U.S. Census Bureau. That amounts to an annual ...
Apartment sales accelerate in Seattle
Redmond sees the most investment activity
As is typical coming out of a down cycle, multifamily is leading the way for property sales recovery in the Puget Sound region. Adjusting for inflation, sales volume in 2024 was at...
Why Boston and Seattle are the nation's tightest retail markets
Inventory reductions are making it harder to find space
As of the first quarter of 2025, Seattle and Boston have the lowest availability rates among the 50 largest retail markets in the nation. While both metropolitan areas experienced ...
As Pacific Northwest population grows, multifamily may feel the squeeze
Washington, Oregon and Idaho gained residents in 2024
According to the latest growth estimates from the U.S. Census Bureau, three states encompassing the Pacific Northwest turned in solid year-over-year population gains between 2023 a...
Employment growth slowed around Puget Sound. But there's a bright spot for offices.
The information sector saw the greatest improvement last year
Overall job growth slowed in the Seattle metropolitan region in 2024, but office-using jobs rebounded.
Seattle's commercial property market shows life signs
Multifamily properties lead region's recovery
With sales volume increasing each quarter over the past year, commercial property sales across the Seattle metropolitan area are staging a turnaround.
Alaska's population grew in 2024, but that didn't help apartment demand
A lack of in-migration offset natural growth in the 49th US state
Alaska’s population grew slightly in 2024, but that didn't translate into increased multifamily demand in the Last Frontier.
As Puget Sound industrial occupancy nosedives, sublet listings drive availability even higher
Kent Valley accounted for largest share of new sublet listings
Driven by an uptick in sublet listings, available industrial sublease space in the Seattle region peaked in the final quarter of 2024.
Seattle's 1980s-era offices underperform in leasing, offering redevelopment opportunities
Properties of the vintage make up nearly 30% of region's available office space
With the Seattle area's office tenants favoring newer spaces, office properties built in the 1980s are seeing the highest availability of any building vintage in the Puget Sound re...
Puget Sound employment growth remains weak. That means more office market strain.
Job growth in the region is underperforming the national average
The Puget Sound region underperformed the nation on employment growth in 2024.
The stage is set for a multifamily rebound in Seattle
As construction slows, region might see improved vacancy rate
Balance is emerging in the Seattle apartment market, with absorption ticking up just as construction starts to slow.
Seattle's economic surge highlights regional strength
Top GDP growth hasn't translated to commercial demand
Among the nation's largest metropolitan areas, Seattle led in economic growth last year. The region's GDP grew 6.2% between 2022 and 2023, according to recent data from the US Bure...
Seattle’s retail vacancy rose to highest level in six years in 2024
Big Lots closures had the biggest impact
Heading into the first quarter of 2025, Seattle’s retail vacancy rate reached its highest level since 2018. While still low, the Puget Sound region’s 3.5% vacancy rate represents a...