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Seattle Market Cooling Off?

December 10, 2014
Seattle Real Estate

Is Seattle’s scorching real estate market starting to cool?

Although Seattle is still hot when it comes to the strength of its commercial and residential market, it is starting to cool off.

Surprisingly, it was the Puget Sound region’s prospects for the housing market the dragged Seattle down, while the outlook for the industrial, hotel and office sectors are still among the top in the nation.

The Emerald City overall fell two spots to No. 8 in the annual Emerging Trends report, which was released in Seattle Tuesday. Two Texas cities, Houston and Austin, came in at No. 1 and 2, respectively, followed by San Francisco, Denver, Dallas/Fort Worth, Los Angles and Charlotte, N.C. Coming it ninth was Boston followed by Raleigh/Durham, N.C.

Urban Land Institute, a nonprofit research group and global accounting firm PwC ranked the cities based on their surveys of more than 1,400 real estate industry experts.

Seattle is the second strongest in the industrial market, the third best hotel market and fourth for office.

“If any hesitation about investments in Seattle exists, it seems focused on the housing market,” the Emerging Trends report states. Seattle’s multi-family sector is ranked tenth, while the single family-housing markets is No. 17

The market in Seattle can expect to see their capital continue to flow in. The region is one of the top capita destinations outside of the core major markets and is attractive to local investors. Locals believe the strength of the local economy will continue to grow and support the investor demand.

For more information read the full article at BizJournal.

via Gary Richetelli


From → Gary Richetelli

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