Rents are up in spite of new constructionTuesday, July 2nd, 2013
July 2nd, 2013
I’m sure many of you saw the headline in the Seattle Times today about rising rents, we would agree in large part with these numbers. Demand is high for apartments and rents are up. The most challenging part of understanding rent velocity in the summer is trying to understand how much of it is driven by the time of year, most people move between July and September, and an increase of job growth, other economic factors, etc. As the statistics in the attached article indicate though, there are some real economic factors that are helping drive the economy; we’re all very fortunate to live in a city with so many healthy employers.
Rising rents and lower vacancy