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%