Good idea but the number of units are a drop in the bucket. We need to think differently to materially move the needle.
Month-month changes not year-year. They need dramatic headlines to sell.
If Seattle really has 10% vacancy, then rents should decrease.
Transitional period where owners are holding out for same/higher rents???
Most rentals are apartments owners and run by big corporations. They’ll do move-in specials before they’ll lower actual rent. They’ll make parking free. They’ll offer a month free.
There’s an oversupply of apartments in Seattle. They have over built and Amazon has set up 2 HQs out of state.
Bay Area rental market is still stable. Not a lot of new buildings.
That should be good though for all of those complaining that high rents are causing the homeless problem. Rents should at least be flat or decrease now. It’s not related to HQ2 though. Amazon has continued to hire in Seattle, and anyone in the city realizes there’s no much space left for new office buildings. Whether it’s Amazon or other companies, there can’t be a ton of new jobs created in the downtown and SLU area. There’s nowhere to put the workers.
Seattle market is coming down.