rennie landscape:
the trusted authority on real estate intelligence
If you’ve been feeling a little exhausted by the regular drumbeat of negative economic news as of late, well, don’t worry — we’re with you. Just as it seemed we were beginning to emerge from a difficult period of economic anxiety, new uncertainties have appeared on the horizon, threatening to disrupt the positive momentum we’ve seen in recent months.
The coming months are likely going to bring considerable noise: conflicting signals about the direction of trade tensions, inflation that may tick upward again in the near-run, and financial market volatility. But these are precisely the times to lean into the data and away from the tumult. We hope this report can help in this respect, and provide some reassurance through clarity on the fundamentals.
RYAN BERLIN
VP Intelligence & Head Economist
PODCAST
Listen as rennie's intelligence division takes an in depth look at the spring edition of the rennie landscape.
seattle | spring 2025
The Spring 2025 edition of the rennie landscape examines the broader forces influencing Seattle’s housing market—offering trusted insight into why the market is behaving the way it is, and what we expect will come next.
key takeaways
Amid difficult economic times, the labor market has been an enduring source of reassurance. There are warning signs ahead, however, and trade wars will test its true resilience.
The composition of today’s inflation shows us why the recent past has been the most difficult stretch for the Federal Reserve in three years.
The stark contrast in mortgage origination volume as interest rates have risen highlight the lock-in effect, which is keeping inventory levels relatively low.
Building permits and completions in Washington have rarely seen divergence, and certainly not as big as we’re seeing now. We can forecast significantly fewer housing completions in coming years as a result.
Washington was one of the fastest-growing states in the country last year. In the Seattle MSA, this surge in population was overwhelmingly driven by one source.
Every ten years, Seattle updates its comprehensive zoning plan, which is a blueprint for the city's growth. Today, the process is underway again, outlining where future development and densification will occur.
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Real estate insights, analysis and perspective from our rennie intelligence division—helping you make sense of Seattle’s market.
interested in other markets?
Alongside the Seattle edition of the rennie landscape, our intelligence division also produces editions for the Vancouver, Victoria and Kelowna markets. Read them at the links below.
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WILLIAM YE
Market Analyst, Intelligence
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