The Condo Comeback

Local

Savvy homebuyers encouraged by improved selection and historically low interest rates are making their way back to the market and developers and brokers are sprinting to catch up. Realogics Sotheby’s International Realty (RSIR) is sponsoring a new condominium showcase at the Fairmont Hotel on September 12th during the BISNOW Multifamily Annual Conference. The much-anticipated event is expected to draw hundreds of industry leaders and brokers seeking advance information on a bevy of new developments making their debut this Fall. Dean Jones, RSIR President and CEO will moderate an expert panel of developers, economists and marketing professionals to discuss the Seattle pivot to homeownership after years of anemic supply and rising prices.

“This is the first time a collection of new condominiums is being showcased since we last presented to the 2007 Condo Expo more than a decade ago,” admits Jones. “The reality is we’ve witnessed an incredible apartment cycle following the recession and seen rents rise as much as 50 percent in Seattle since 2010. Now many of those renters are seeking homeownership to lock in their housing costs and participate in equity gains in what’s become the fastest-growing large city in the US.”

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