Seattle Market Snapshot Q2 2022

Throughout Q2 2022, Seattle continues to realize some of the lasting impacts from a combination of macroeconomic slowdowns, looming concerns around CV-19 and the resulting work-from-home movement, as well as public safety concerns. The overall Seattle direct vacancy rate increased during Q2 2022 to 13.84% while sublease vacancy slightly increased to 4.67% resulting in a total vacancy rate of 18.50%. Despite the unprecedented uncertainty, Seattle continues to exhibit sound longterm fundamentals that will enable a strong recovery.