the rennie landscape | Seattle | Fall 2025

We are pleased to present the Fall 2025 edition of the Seattle rennie landscape.

We write to you from the midst of a government shutdown, its end still somewhere beyond view. Though we’ve been through closures before, this one arrives at a particularly sensitive moment. More than ever, policy feels central to the story in both housing markets and the broader economy.

A thread running through this edition will be the appearance of cracks—small but widening. Across construction, employment, and equities, we see signs of strain, though not yet of fracture. Anticipating those pressures early is key to effectively navigating what comes next. We hope our commentary helps provide the clarity to do so.

⁠Explore the digital edition of the rennie landscape for seamless access to expert insights and real estate perspectives. This enhanced platform offers a more intuitive and engaging experience that distills key insights to help you stay ahead.

Twice a year, rennie intelligence produces the rennie landscape, which tracks a variety of demographic and economic indicators that directly and indirectly influence the housing markets of Metro Vancouver, Greater Victoria, and the Central Okanagan. Our goal is to provide our community with a basis for evaluating the trajectory of the factors that collectively define the context of the real estate market.

Our rennie intelligence division comprises our head economist, market analysts, and data scientists. Together, they empower individuals, organizations, and institutions with data-driven market insight and analysis. Experts in real estate dynamics, urban land economics, the macroeconomy, shifting demographics, and data science, their industry-leading data acquisition, analytical systems, and strategic research supports a comprehensive advisory service and forms the basis of frequent reports and public presentations, covering the Vancouver, Kelowna, Victoria, Seattle, and Coachella Valley marketplaces. Their thoughtful and objective approach embodies the core values of rennie.