The close of Q4 marks the end of a challenging year for the office sector as vacancy increased to 7.7% (up 1.83% YoY), with overall net absorption for the year at -801,562. While much of 2020’s results were driven by the pandemic that forced most employees to work from home, increasing adoption of the vaccine should bring employees back into the office environment for the year ahead.Read More
In October and November of 2020, a record 29.4% of users on redfin.com were seeking to move to another metro, the highest reading since Redfin began tracking the metric in 2017. During the same time period, the Puget Sound region (along with many other regions around the country) experienced housing prices that climbed to record highs, supply levels at all time lows and houses that sold at over the asking price. In some cities, 68.9% or more of all homes sold over the asking price. Certainly, the pandemic was a major driver of this – but how many of these trends were already in place, and where is everybody moving to?Read More
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