California sees largest share of residents moving to or from Pacific Northwest
Meanwhile, southern states had the largest share of migration from the region
In 2023, about 334,000 residents moved to the Pacific Northwest of the United States, according to recently released state-to-state migration flow data from the U.S. Census Bureau....
Continuing multiyear trend, Puget Sound apartment rents fall in autumn
All neighborhoods show a downward trend in the fourth quarter
Seattle’s apartment market is exhibiting a typical seasonal pattern, with rents falling by 0.5% in October after similar-sized month-over-month drops in August and September.
Medical offices outperform in Puget Sound region while traditional offices struggle
The segment saw low availability even as the overall office market underperformed
Seattle’s traditional and medical office markets have behaved differently in the wake of the COVID-19 pandemic, with availability in traditional office space skyrocketing and medic...
Office vacancy expansion slows in the Puget Sound region
Central business districts underperform, with Bellevue’s outlook more favorable
Over the past year, the vacancy rate for office properties across the Puget Sound region increased from about 12.9% to 15.7%. While the 280-basis point increase was one of the high...
Seattle multifamily renter demand rises in 2024
The vacancy rate stabilizes despite record construction completions
Slowing inflation, rising incomes and improved consumer sentiment have led to stronger renter household formation in the Puget Sound region. Absorption — the net change in the numb...
Seattle industrial rents dropped for the first time in 14 years. Here's why.
Tenants have more negotiating power in a market with more construction and decreased demand
An influx of construction and a downturn in demand have lead the Puget Sound region to its first drop in industrial rents in 14 years.
Available space on the rise in Seattle’s life science projects
Speculative construction drives the increase
Competition is accelerating among office buildings geared toward life science tenants in the Puget Sound region. The vacancy rate for office buildings that include some amount of l...
Will multifamily concession rates in Seattle and Portland peak soon?
Vacancies could fall but Washington and Oregon's largest markets need to work through near-term supply
As the waves of apartment completions that blanketed Portland, Oregon, and Seattle over the past 18 months slow substantially, multifamily supply trends in both markets are taking ...
Weekday demand in Bellevue and downtown Seattle drive hotel performance gains
Conventions and return-to-office policies are boosting hotel demand
Corporate travel, conferences and conventions are driving gains in weekday hotel performance in Seattle. As a result, the region has experienced one of the highest topline hotel pe...
Puget Sound office availability starts leveling — with one exception
Space on the market seen steady or falling outside of Seattle
The Puget Sound region's office market is showing signs of stabilization, with many areas seeing steady or falling availability rates over the past few months. There's just one exc...
Retail leasing activity in Puget Sound is low. Why is availability tight for vintage properties?
Seattle-area retail buildings from the 1950s have the lowest availability rates
Retail leasing activity might be down in the Puget Sound region, but availability remains tight for new and old properties alike.
Employment growth accelerates in the Puget Sound region
Losses in tech sector continue driving annual decrease in office jobs
While decreased office use impacted demand for office space after the onset of the COVID-19 pandemic, losses in office-using employment are extending the Seattle office market’s do...
Seattle’s industrial vacancy reaches highest level in 12 years
Tenants in the region continue to shed space as move-outs outpace move-ins
After years of strong tenant demand, the Puget Sound region's industrial market is seeing a major shift.
Average office lease size increases in the Puget Sound region
Tenants in Seattle commit to longer terms
In the Puget Sound region, tenants are signing longer and larger leases, a potential sign of confidence in the market.
Closures of large Seattle stores offer opportunities for new tenants
Puget Sound retailers find life sprouting beyond bed and bath
In the Seattle region, larger footprints left by big box retailers aren't staying empty for long.
In this active US city, food and fitness dominate the retail scene
Other retail categories see a decreasing share of Seattle real estate
Across the United States, fitness- and food-related businesses increasingly dominate the retail landscape. Seattle is no different.
How High Can Rent Go? Seattle’s Suburbs Test Their Limits.
Growth Slows in Everett and South King County
After attracting residents with lower multifamily rents, many of Seattle’s popular suburbs saw incredible gains over the past few years. As a result, those rents are approaching th...
Seattle Tenants Favoring Larger Apartments in 2024
One-Bedrooms Units Remain Popular, but Demand for Two-Bedroom Units Rises
In the first half of 2024, Seattle's apartment absorption — or the net change in occupied units — came in at 7,500 units, about double the figure from the same period in 2023.
Seattle’s Small Bay Availability Remains Tight
Small Industrial Properties Near the Port of Tacoma Remain Especially Popular
In contrast to larger industrial properties, small-bay buildings in the Seattle area have largely remained shielded from a recent wave of speculative construction, keeping availabi...
Return to Office Accelerates in Downtown Seattle
Increased Use Has Yet to Affect Space Demand
Despite the still-shrinking amount of occupied office space in downtown Seattle, the number of workers present during office hours rose dramatically over the past two months.