Washington Center for Real Estate Research

The Washington Center for Real Estate Research has released our Q2 2024 Apartment Market Report for Washington State. The report provides a summary of rent, vacancy rate, and affordability trends for the state, the Puget Sound region, and the rest of the state. We've expanded our geographical coverage to report data throughout the state, providing detailed rent and vacancy rate statistics for more individual counties than ever before (where data is available). Check out the report and see all of our data/publications by visiting our website: https://lnkd.in/gazTWUwT

Washington state's housing market was weaker in the first quarter of 2024, with sales and new building permits falling compared with a year ago. The statewide median sales price for a single-family home rose to $626,100 in the first quarter, 9.3% higher than thesame time in 2023. The seasonally adjusted annual rate of existing home sales fell 21.5% from the first quarter of 2024, from 99,350 to 77,990. Home prices rose in 17 of the state's 18 metropolitan counties Come visit the WCRER website to view/download the entire Housing Market Report for the first quarter of 2024:?https://lnkd.in/gGfeCUxJ

The Washington Center for Real Estate Research has released our Q1 2024 Apartment Market Report for Washington State. The report provides a summary of rent and vacancy rate trends for the state, the Puget Sound region, and the rest of the state. We've expanded our geographical coverage to report data throughout the state, providing detailed rent and vacancy rate statistics for more individual counties than ever before (where data is available). Check out the report and see all of our data/publications by visiting our website: https://lnkd.in/gazTWUwT

The Washington Center for Real Estate Research has just released our Q1 2024 Rental Housing Market Report, with data on more cities across Washington State than ever before. To provide guidance to planners and housing market analysts, we report on units classified as market rate or affordable and provide data on apartment rents, square footage, and vacancy rates. Affordable units are included to give a better picture of the overall affordability of the rental apartment sector. View/Download the complete data by visiting our website at the following link: https://lnkd.in/dbfRXvic

Our WCRER Director, Steven Bourassa, was a judge for this year’s CoStar Impact Awards for the Seattle/Puget Sound region.?As one of eight judges comprised of real estate industry professionals, Steven reviewed nominations and selected five winners from the Seattle/Puget Sound market in the following categories: Lease of the Year, Commercial Development of the Year, Multifamily Development of the Year, Redevelopment of the Year, and Sale/Acquisition of the Year. The CoStar Impact Awards recognize exemplary commercial real estate transactions and projects completed in 2023 with significant influence in neighborhoods or submarkets across 128 major markets in the United States, Canada and the United Kingdom. The annual CoStar Impact Awards celebrates commercial real estate professionals that have brought leadership, innovation and professionalism to their markets, by spotlighting commendable transactions and projects. Learn more about the CoStar Impact Awards and view details about the winning projects/transactions here: https://lnkd.in/gWh4YxqR

In recent years, the Washington legislature has enacted significant legislation intended to increase capacity for residential development in urban areas and thereby make housing more affordable. It is well understood that unnecessarily restrictive regulatory constraints are among the key factors leading to the inadequate supply and high cost of housing. The recent legislation directly targets these kinds of constraints. This report focuses on the possible impacts of two key pieces of legislation: HB 1923 and HB 2343, enacted in 2019 and 2020, respectively. These provided planning grants to help municipalities develop and implement housing action plans intended to identify potential actions, including code changes, to enhance residential building capacity. Come view/download the full report here: https://lnkd.in/gZ66dQTU

Wondering how affordable it is to rent or own in a given city or county in Washington State? The Washington Center for Real Estate Research has just released our Q4 2023 Housing Affordability Indexes. Come visit our website to view/download the latest data and see what housing affordability looks like in your region: https://lnkd.in/dgZzRa3F

House prices are a key determining factor in housing affordability and in assessing the ability of renter households to transition into homeownership. For many cities, county level house price data represents too large an area to conduct useful analysis of housing costs for localized markets. To assist local governments in assessing housing needs, we report median prices by dwelling type and number of bedrooms for cities with population of at least 10,000. The Washington Center for Real Estate Research has released our latest City House Price Report for Q4 2023. Come view/download the data here: https://lnkd.in/gR6-uJQB

Any analysis of housing markets and development activity must consider new housing supply. Housing strategies revolve around issues such as having enough housing in the pipeline being developed of a certain type. Since demand for housing can change quickly and supply is slow to respond, planning responses should be based up knowing what types of construction are being proposed and what has recently been completed. The Washington Center for Real Estate Research has released the latest data on residential building permits for counties and cities. We have also added data on towns and unincorporated areas throughout Washington State. Come view/download the latest figures by visiting the following link: https://lnkd.in/gbC-WyBJ

The Washington Center for Real Estate Research has released our Q4 2023 Rental Housing Markets data. To provide guidance to planners and housing market analysts, we report on units classified as market rate or affordable and provide data on apartment rents, square footage, and vacancy rates for cities with populations of at least 10,000. Affordable units are included to give a better picture of the overall affordability of the rental apartment sector ? View/Download the complete data by visiting our website at the following link:?https://lnkd.in/dbfRXvic