Bourassa Quoted on Why Rent Prices are Leveling Off in Washington State
Posted: 11/9/2023 (CSDE in the News and CSDE Research)
The Washington State Standard quoted CSDE Affiliate Steven Bourassa, director of the Washington Center for Real Estate Research on findings from their recent report that Washington’s rent prices are stabilizing. Bourassa said that while it is tough to identify the exact cause, growth may be slowing due to new apartments that were built in the last three to four years. At the same time, demand for rental housing is not necessarily growing. Bourassa discussed how this combination of rising vacancies and low demand means that “The market is saturated at the moment”. Read the full story here.