What does this mean for the rental market?
In what could signal a new trend, 5 buildings that were being built for apartment use have now confirmed they are going to be sold as condos. Curbed Seattle talks about which buildings are converting and when they will be hitting the market.
While this is good news for homebuyers looking for condos in the Seattle area, the question is how it will affect our rental market. Rents are high, see what $1,000 a month can get you for a rental in the Seattle area.
It’s an interesting conversation as we navigate the shifting marketplace. A study was just released and showcased in the Business Insider revealing that the average millennial will spend over $200,000 on rent before buying a house with Gen Z spending even more!
If you are interested in making a move give me a call to discuss your options. Im always happy to help!