Business Immo, the real estate website
Market Beat

Seattle : Industrial Snapshot - Q2 2013

Published on

A research produced by

Seattle : Industrial Snapshot - Q2 2013

Increasing employment drove the U.S. economy forward to the current unemployment rate of 7.6% resulting from an added average of approximately 170,000 jobs per month each month throughout 2013. The job market for the Seattle-Tacoma-Bellevue Metropolitan Statistical Area (MSA) continued to shine as the unemployment rate dramatically declined by 1.9 percentage points (pps) during 2013 to the current rate of just 5.2%.

In another dramatic shift, the biggest problem in residential real estate seems to be a lack of supply, which helped raise median prices to $417,500 up over 15% from a year ago. King and Snohomish counties were also able to absorb over 2,000 new apartment units while vacancy rates fell to 4.4% from 4.8% even amid rising rents, according to Apartment Insights. 

Source : Cushman & Wakefield

This research is available only to BI or BIE subscribers

Please log in, or contact us to find out how to subscribe