Searching for a home in Seattle? Good luck. Recent data from the U.S. Census Bureau’s Housing Vacancy Survey shows that vacancy rates in both the rental and home-buying markets are the lowest they’ve been since the 1980s (the unpredictable early-pandemic years, notwithstanding).
According to the survey, which looks at data from the 75 largest metropolitan statistical areas, the rental vacancy rate in the first quarter of 2022 was just 5.8 percent, the lowest it’s been between 1985 and 2020. The homeowner vacancy rate was 0.8 percent, a new pre-pandemic low in the 66-year history of the survey.
Look at numbers from Washington state, though, and it’s an even
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