Author: Helen Smith

The Washington state Legislature passed a bill last weekend that caps rent increases for many. The proposal now heads to Gov. Bob Ferguson's desk for his signature. 

The initial proposal passed in the House capped rent increases at 7% yearly, but an updated version in the Senate increased that to 10%. A conference committee between the two chambers settled on a compromise of 7% plus inflation, or 10%, whichever is less. The rent cap for manufactured and mobile homes is even lower, at 5%.

By:  Marc Stiles

Downtown Bellevue's curvy, glassy Soma Towers have sold for $192.85 million.

The 273-unit asset is the largest commercial real estate deal in King County so far this year, besting a $147 million dollar sale in downtown Redmond.

By: AJ LaTrace

In the 39-page complaint, Compass alleges that NWMLS policies prohibiting pre-marketing are preventing “meaningful competition from gaining traction.”

The heated dispute between brokerage giant Compass and Seattle-based Northwest Multiple Listing Service over pre-marketing rules and private exclusive listings has now escalated to the courts. 

On April 25, Compass filed a lawsuit against NWMLS in U.S. District Court for the Western District of Washington alleging "monopolistic" and anticompetitive business practices, obstruction of seller choice, retaliation via a recent suspension of data services and other claims. 

By Elliott Krivenko

Office vacancy in the Puget Sound region reached its highest rate in at least 40 years in the first quarter of 2025, topping 16%.

That figure placed Seattle among the country’s top 10 large office markets by that metric.

Historically, the Seattle metropolitan area has excelled. Seattle's average from the 1980s through the 2010s was below 10% in each decade. Now, the vacancy rate is significantly above that and is likely to rise further in the year ahead.