Zonda Dealmakers in Seattle will shed light on the metro’s new-home sector amid economic and employment uncertainty.
The scope of layoffs by Amazon, a cornerstone of the economy in Seattle and Washington state, is likely to have ramifications within the metro. The employer is cutting more than 10,000 corporate positions and 10% of its total workforce. Seattle and neighboring Bellevue account for nearly 20% of Amazon’s total workforce, suggesting the greater Seattle area may be uniquely exposed to the negative effects of the layoffs in 2026.
In the housing market, new-home sales decreased on an annual basis in Seattle during the final months of 2025 at the same time existing-home closings rebounded. The average new-home sales rate in the high-cost Seattle metro tracked below the national average, according to Zonda data.
“While Seattle households generally earn more than the national average, the combination of a shaky local economy and high housing costs has pushed many shoppers to their limit,” says Zonda chief economist Ali Wolf. “Even with rising inventory in both the new and resale markets, consumers aren’t quite ready to engage just yet.”
At the Seattle Dealmakers event, Zonda advisory experts, including Wolf, Mollie Carmichael, Kimberly Byrum, Tim Sullivan, and Nicollette Chapman, will shed light on the national and regional housing landscape. Additionally, representatives from Richmond American, The Cordillera Group, and Forestar will share insights from on the ground.
Below are additional highlights of the Seattle market ahead of the event.
Strengths and Weaknesses
Changes to Seattle’s single-family zoning laws has eased restrictions on housing density, allowing lots to contain up to four homes without being accessory units to a larger unit. Additionally, the laws no longer require units to share walls. This provides a positive runway for builders within the market.
At the same time, the Seattle-Tacoma-Bellevue market remains undersupplied, with finished vacant inventory spiking to the highest level since 2010 during the third quarter of 2025. Affordability also remains a challenge for the market: while new-home sales are strongest in the $600,000 to $750,000 price range, the majority of starts and lot deliveries are at price points north of $850,000.
Prices and the Economy
The average list price for a new detached home in the Seattle-Tacoma-Bellevue metro decreased 17.6% from 2024 to $908,463 in December of 2025. The average list price for a new attached home declined by 6.6% over the same period to $875,868. The most closing activity occurred for homes priced at or above $950,000.
While employment is growing marginally, the unemployment rate is inching close to 5% in Seattle-Tacoma-Bellevue. Job growth rates in the market remained below the national average in 2025 and forecasts call for growth below 1% in 2026 and 2027.
Community
The current population for the Seattle-Tacoma-Bellevue metro area is approximately 4,208,010 people with growth below 1% projected for 2026. The number of households increased 1.2% in 2025 and forecasts call for annual household formation growth of 2% for 2028. The median household income in the metro is $118,500, up 3.4% from the previous year. However, the high cost of living in the market means housing costs account for approximately 74.9% of income for the average resident.
The Seattle Dealmakers event takes place Jan. 28 at the Westin Bellevue. Register here.
