It seems that a lot of people are moving into apartments Seattle because of the housing crisis and the high rate of foreclosures. In fact 6,796 new units are projected to hit the Seattle-Bellevue market in 2013.
Some people are worried that the market will be overbuilt with all the new units. This could bring freebies and perks to renters but would probably keep developers and bankers from realizing the profits they expected. Some say the market for single family housing is about to rebound which could cause additional problems for apartments according to https://www.bizjournals.com/seattle/print-edition/2011/06/24/seattle-apartment-building-surge-has.html?page=2.
“There’s a dance between the two markets,” Conway added, “and I wonder what that dance will look like three years from now.”
Right now it’s still cheaper to rent than own in the Seattle area — but the gap is getting smaller as rents rise and house prices fall.
How about you? Any luck finding apartments Seattle ? Comment below.
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