I did some speculative analysis for Redfin on the impact that Amazon HQ2 will have on the Seattle real estate market: Amazon HQ2 Could Quickly Turn Seattle Into a Buyer’s Market
For the article I spoke with a Redfin Seattle agent who has had some interesting conversations already with buyers…
“From my conversations, it seems that some would-be buyers are waiting on the sidelines for the announcement of where HQ2 will be located,” said Seattle Redfin agent Jessie Culbert. “If they work for Amazon now, they may decide to relocate to be closer to family and friends. If they don’t work for Amazon and plan to stay in Seattle, they may wait to see how additional inventory on the market could impact pricing.”
…
Once Amazon announces the location of its HQ2 and begins hiring there in earnest, it will inevitably slow the Seattle housing market, at a time when inventory is already on the rise and a historic rental building boom is leading to a surging apartment vacancy rate.
…
So what could Amazon HQ2 mean for Seattle? Let’s consider some hypotheticals on opposite ends of the spectrum…
We touched on it a little in the post, but I think we’re already starting to see these effects in the Seattle area, and HQ2 may be a big part of why Seattle has slowed down so suddenly this year compared to many other markets.