Thursday, June 28, 2018

Report: Development Pipeline in Seattle & Portland Risks Short Term Oversupply; Long-Term Balance?

Yardi Matrix released a Supply and Demand Forecast by Metro area that indicates the following:

Note: The report’s methodology assumes the percentage of apartment renters will remain constant. This appears unlikely for the Pacific Northwest given the current and expected level of in-migration.

Metro
Apartment Supply 2-years
Apartment Demand 2 years
2-year Supply Growth %
2-year Demand Growth %
Seattle
23,197
9,695
10.0%
4.4%
Portland
8,438
4,665
5.8%
3.4%





Metro
Apartment Supply 5 years
Apartment Demand 5 years
5-year Supply Growth
5-year Demand Growth
Seattle
33,041
22,024
14.3%
10.0%
Portland
10,032
10,219
6.8%
7.3%

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