Blue Skies Ahead: Seattle Market Review, June 2012

Seattle's economy is expanding at an optimistic pace

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Signs of Life Signal Sunny Seattle Future

If you ignore the world around us and the continued flailing of the national economy, it appears that the Puget Sound region may be climbing out of the depths of the Great Recession trough. Retail sales seem to be picking up steam as the primary drivers of consumer spending – personal-income gains, an uptick in housing starts, lower unemployment and stable interest rates – continue to improve. While the housing market currently remains stagnant – even with homes being the most affordable since the 70s – commercial building in the downtown areas of both Seattle and Bellevue is quite active.

Seattle’s Doing Something Right

Things are looking particularly good in the Seattle area, which recently was ranked by the Forbes/Praxis Strategy Group as the #1 city for tech-sector growth, as well as the third strongest economy in the U.S. (over the long term) by the independent economic research firm, Policom Corp.

Seattle's latest rankings suggest a bright future

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Our local salaries, averaging $56,290, place the Seattle-Bellevue-Everett market as the 12thhighest paid. As if that were not enough, a report from Brookings Institute identifies Seattle as one of the nation’s leading manufacturing regions! Jobs creation, much in the tech sector, places Seattle in the #8 spot among U.S. metro areas. Even those who gave up looking for work during the Great Recession are feeling encouraged about seeking out meaningful employment! Barring any more economic disruption, and our political leadership doesn’t drive us off the fiscal cliff, nearly every leading indicator suggests the Puget Sound economy is well into expansion mode.

You can read all about it in the June Seattle Market Review. Download the free report and stay on top of all the activity and opportunities.

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