Article | Intelligent Investment

Puget Sound Multifamily Future in Focus June 2023

June 27, 2023 45 Minute Read

Seattle Eastlake

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Following an expectedly tepid winter in late-2022 that saw relatively few renter moves, leasing activity has rebounded significantly. In fact, the Seattle Metro region saw the fourth highest net absorption during Q1 of 2023, at 1,007 units.

CBRE projects 239,000 net new residents across the Seattle metro over the next five years. This will support the demand for nearly 60,000 additional apartment units set to be delivered during this time frame.