Washington State Real Estate Market Overview: Investment Trends & Opportunities

11/11/2024

Industry Insights

Washington State’s real estate landscape is remarkably diverse – from the tech-driven Seattle metro to quaint rural towns and vacation hotspots. This diversity, coupled with robust economic growth, has created significant investment potential across the state. In 2025, Washington’s property market offers opportunities ranging from urban high-rises and suburban homes to commercial spaces and vacation rentals. Investors are attracted by the state’s strong fundamentals, including a growing population, thriving industries, and ongoing development.

Macroeconomic Drivers Fueling Growth

Several macroeconomic forces are propelling Washington’s real estate market forward:

Technology Sector: The Seattle area is a global tech hub, home to giants like Amazon, Microsoft, and Google. The concentration of high-paying tech jobs drives housing demand and investor interest in both residential and commercial properties. Even after some tech hiring pauses in recent years, the long-term outlook remains strong as Seattle consistently ranks among top U.S. markets for tech talent.
Aerospace Industry: Washington has a rich aerospace legacy led by Boeing and a network of suppliers. Boeing’s facilities (notably in Everett and Renton) and emerging space companies contribute tens of thousands of jobs and support commercial real estate (e.g. manufacturing plants, warehouses) (https://washingtonstatestandard.com/2025/04/21/wa-commerce-chief-warns-tariff-fallout-could-hit-state-hard/). The aerospace sector’s stability and recent recovery (over 80,000 employed as of 2024) bolster investor confidence in markets like Everett and Spokane that have aerospace clusters.
Migration & Population Growth: Washington’s population continues to swell, surpassing 8 million in 2024. Notably, about 80%+ of recent population growth has come from net migration – people moving into Washington for its jobs and lifestyle (https://ofm.wa.gov/about/news/2023/06/washington-tops-79-million-residents-2023). This influx has kept housing demand high statewide, even as natural population increase slows. Fast-growing counties like King (Seattle), Pierce (Tacoma), and Spokane are seeing occupancy rates remain high as new residents arrive for opportunities.
Infrastructure & Trade: The state’s infrastructure development and strategic location amplify real estate prospects. Major projects like the Light Rail expansions in the Puget Sound region are improving connectivity and spurring transit-oriented developments. Washington’s ports (Seattle and Tacoma) handle billions in trade, making it one of the most trade-dependent states (over $58 billion in exports in 2024) (https://washingtonstatestandard.com/2025/04/21/wa-commerce-chief-warns-tariff-fallout-could-hit-state-hard/). Upgraded highways, a thriving Sea-Tac international airport, and cross-state commerce (I-90 corridor) all enhance property values in adjacent areas. Continued investment in infrastructure is unlocking new land for development and boosting commercial real estate (from industrial parks to mixed-use complexes).

Seattle: Market Trends & Investment Highlights

Seattle is Washington’s flagship real estate market, characterized by high property values and strong investor demand. After a whirlwind few years, Seattle’s housing market has settled into a more sustainable pace. As of early 2025, the median home sale price in Seattle is around $850,000 – roughly 1.4% higher than a year ago (https://www.redfin.com/city/16163/WA/Seattle/housing-market). Price growth has moderated from the double-digit surges of 2020-2022, largely due to higher interest rates, but remains positive. Inventory is still tight (active listings remain historically low), and homes sell quickly (often in under two weeks on market) thanks to persistent buyer demand.

Seattle’s rental sector is equally robust. The city’s average monthly rent is about $2,200, and vacancies are low – around 95% occupancy in multifamily properties (https://www.cbre.com/insights/figures/puget-sound-multifamily-figures-q3-2024). In Q3 2024 alone, over 5,000 new apartment units were absorbed by the market, showing that new supply is quickly met by demand (https://www.cbre.com/insights/figures/puget-sound-multifamily-figures-q3-2024). Neighborhoods near job centers (Downtown, South Lake Union, Capitol Hill) see especially strong rental demand from young professionals. High rents and steady appreciation have made Seattle a favorable market for investors in apartments and rental homes (despite relatively low cap rates).

On the commercial side, Seattle presents a mixed picture. Office space has been a soft spot – downtown office vacancy hovered around 23% in late 2024 (https://washingtonstatestandard.com/2024/09/09/seattles-office-real-estate-market-still-looking-sluggish) as remote/hybrid work curtailed demand. New office construction is slowing, and landlords are offering concessions to fill space. However, other commercial segments are healthier: industrial/logistics warehouses around Seattle and Kent Valley remain in demand (though vacancy crept up to ~7% as new projects delivered), and retail in prime locations is rebounding as foot traffic returns. Meanwhile, Seattle’s status as a cultural and economic center ensures long-term confidence. The metro’s population has grown nearly 40% since 2005 (https://www.cbre.com/insights/figures/puget-sound-multifamily-figures-q3-2024), and forecasts peg it among the fastest-growing large metros through the next decade, guaranteeing ongoing need for housing and business space.

Investment highlights: Seattle offers investors a dynamic, resilient market anchored by diverse employment. Multifamily properties are particularly attractive given low vacancies and proven rent growth (Seattle rents rose ~17% total over the past four years) (https://www.cbre.com/insights/figures/puget-sound-multifamily-figures-q3-2024). Redevelopment opportunities are emerging as well – for example, older offices or under-utilized properties can be repositioned into housing, labs, or mixed-use. Investors should note Seattle’s relatively high entry costs and recent regulatory changes (discussed later), but overall the city remains a cornerstone for Washington real estate portfolios. View Seattle listings on Brevitas for current investment opportunities in the city.

Bellevue: Market Trends & Investment Highlights

Across Lake Washington from Seattle lies Bellevue, the Eastside’s business hub and an investor favorite. Bellevue’s market has seen remarkable growth, fueled by an influx of tech companies and affluent residents. Home prices here are among the highest in the Northwest – the median home price in Bellevue sits around $1.5 million (roughly flat year-over-year) (https://www.redfin.com/city/1387/WA/Bellevue/housing-market). During 2024, prices in some Bellevue neighborhoods even ticked up despite national headwinds, a testament to the city’s desirability. Inventory remains scant; well-priced listings often receive multiple offers and sell in under a week.

Bellevue’s commercial real estate is booming thanks to major corporate expansions. Amazon, for example, has been rapidly growing its Bellevue footprint, with plans to accommodate some 25,000 employees in new downtown office towers over the next few years. This, along with Microsoft’s long-standing presence in the nearby Redmond campus, has attracted supporting businesses and developers to Bellevue. New high-rise projects are adding office, retail, and luxury condo space to the skyline. Office vacancy in Bellevue is considerably lower than in downtown Seattle, as demand for modern workspace in this amenity-rich city remains solid.

Investment highlights: Bellevue offers a combination of stability and upscale growth. The city boasts top-rated schools, safe neighborhoods, and a high quality of life – factors that keep residential demand high. For investors, single-family rentals and townhomes in Bellevue command premium rents due to the limited supply of housing. On the commercial side, owning office or retail space in Bellevue’s core can be lucrative, given the influx of high-income workers. Retail centers and mixed-use developments benefit from the area’s wealthy consumer base. It’s worth noting that Bellevue’s land and property prices are high, but the long-term trajectory has been reliably upward. The Eastside tech boom and forthcoming light rail connections (Bellevue will soon be linked to Seattle via rapid transit) make this market a strong bet. Explore Bellevue listings on Brevitas to see available investments in this city.

Tacoma: Market Trends & Investment Highlights

Tacoma, Washington’s third-largest city, offers a more affordable entry into the Puget Sound region without sacrificing growth potential. The housing market in Tacoma has been steadily appreciating. The median home price is around $465,000, up ~2–3% year-over-year as of early 2025 (https://www.redfin.com/city/17887/WA/Tacoma/housing-market). This is about one-third of Seattle’s median price, highlighting Tacoma’s relative value. In recent years, many buyers and investors priced out of Seattle turned to Tacoma and surrounding Pierce County, driving demand. The pandemic accelerated this trend, with remote workers and families seeking more space. As a result, Tacoma saw a surge in prices from 2020–2022. Now, in 2025, the market is stabilizing at a healthy level – homes still sell in about 3–4 weeks on average and inventory has modestly improved, giving buyers a bit more choice.

Tacoma’s economy is anchored by the massive Joint Base Lewis-McChord (JBLM) military base, the Port of Tacoma, and a growing healthcare and education sector. The Port of Tacoma (part of the Northwest Seaport Alliance with Seattle’s port) is a major driver, supporting industrial real estate like warehouses, logistics centers, and manufacturing facilities. Industrial vacancy in the Tacoma area is low as import/export and distribution activities stay strong. The city’s downtown is also undergoing revitalization – University of Washington Tacoma’s campus expansion and new craft breweries, museums, and apartments have breathed life into formerly neglected blocks.

Investment highlights: Tacoma presents opportunities for higher yields compared to King County. Single-family rentals and small multifamily properties here can offer solid rental income, as housing is in demand from military families, local employees, and commuters. Tacoma’s rental market benefits from affordability relative to Seattle – average rents (~$1,750 for a 2-bedroom) attract those who want proximity to Seattle (a short freeway or Sounder train ride away) at a lower cost. Additionally, commercial investors find value in Tacoma’s industrial properties and port-related assets, which are poised for growth with increasing Pacific trade volume. There are also several Opportunity Zone areas in Tacoma, offering tax benefits for redevelopment projects. Overall, as Seattle’s “priced-out” population and businesses look south, Tacoma stands to gain. Browse Tacoma listings on Brevitas to discover current investment properties in this market.

Spokane: Market Trends & Investment Highlights

On the eastern side of the state, Spokane is a vibrant market on the rise. Spokane (the state’s second-largest metro) has experienced significant growth as an inland Northwest hub for education, healthcare, and manufacturing. Its real estate market saw a surge in prices during the 2020–2022 boom, followed by a leveling off. The median home price in Spokane County is about $420,000 in early 2025, a slight increase (~1% YoY) from the previous year (https://www.redfin.com/county/3100/WA/Spokane-County/housing-marke. Essentially, Spokane’s housing market has transitioned from a red-hot seller’s market to a more balanced one. By late 2024, active listings had increased (inventory reached roughly a 3-month supply, up from barely 1-month supply in 2021), giving buyers more options. Homes now take around 2 months to sell on average, versus just a few weeks at the peak of the frenzy.

This cooling is healthy in the long run and hasn’t diminished Spokane’s appeal. The city continues to attract new residents, including some relocating from Seattle/Western Washington in search of lower cost of living. Spokane’s economy is diverse: it’s a regional medical center (with major hospitals and clinics), an education center (home to universities like Gonzaga and WSU’s Spokane campus), and has a growing aerospace and tech manufacturing presence. Companies have been investing in Spokane’s industrial parks, and a new Amazon distribution center opened in recent years, reflecting confidence in the area. Office and retail real estate in Spokane are relatively stable, with downtown revitalization efforts (like the Riverfront Park area redevelopment) drawing businesses and tourists.

Investment highlights: Spokane offers investors something increasingly rare on the West Coast – affordability with growth. Rental yields in Spokane can be attractive: home prices are lower while rents (though modest, with an average around $1,400 for a 2-bedroom) have been rising in tandem with demand. Multifamily properties, from small apartment buildings to duplexes, are popular investment targets, often providing better cap rates than similar properties in Seattle. Moreover, Spokane’s vacancy rates remain reasonably low and the tenant pool is bolstered by students, military personnel (Fairchild Air Force Base is nearby), and retirees drawn to the area. Commercial investors may find opportunity in Spokane’s expanding industrial sector or by capitalizing on downtown’s renaissance with mixed-use buildings. With planned infrastructure improvements – including the ongoing North Spokane Corridor highway project and potential high-speed rail links in the future – Spokane is positioned for long-term expansion. See Spokane listings on Brevitas for available investment properties in this growing market.

Vacation & Rural Markets: San Juan Islands, Leavenworth, Chelan & More

Beyond the major cities, Washington State boasts popular vacation and rural markets that offer unique investment opportunities. Many of these areas saw a surge of interest during the pandemic as remote work and urban flight led buyers to seek refuge in scenic locales. While some of that frenzy has cooled, the long-term investment case in these markets remains compelling due to limited supply and enduring tourism appeal.

Leavenworth: Nestled in the Cascades, Leavenworth is a Bavarian-themed mountain town that attracts visitors year-round for its festivals and outdoor recreation. Home values in Leavenworth have climbed to record highs – recent reports show median single-family prices in the $800K range, reflecting the strong demand for vacation cabins and rental chalets. The vacation rental market is robust here; investors often buy cabins or condos to rent out to tourists during the Oktoberfest, Christmas Lighting Festival, and summer hiking season. One consideration is regulatory oversight of short-term rentals, as local authorities balance tourism with community needs. Overall, Leavenworth’s charm and branding ensure it remains a top Washington getaway, supporting property values.
Chelan: Lake Chelan, with its sunny climate, lakefront resorts, and wineries, has seen significant real estate activity. The median home price in Chelan is roughly in the mid-$600K range (as of 2025), after jumping by double digits in the past year. Waterfront properties and vacation homes around Lake Chelan are highly coveted. Investors interested in vacation rentals find Chelan attractive due to its summer peak season – weekly rentals of lakefront homes can fetch premium rates. As with other vacation markets, the pool of buyers in Chelan includes both retirees (looking for second homes or future retirement homes) and investors capitalizing on Airbnb-style income. Land for development is limited along the lake, so existing properties hold their value well, especially those with direct water access.
Other Notable Areas: Numerous other rural markets in Washington offer niche opportunities. For example, the Cle Elum and Suncadia resort area over Snoqualmie Pass has become a hot spot for luxury vacation cabins and golf course homes. Walla Walla, known for its wine country, attracts vineyard investment and boutique hospitality development. Coastal communities like Ocean Shores and Long Beach draw Seattle-area retirees and second-home buyers looking for beach cottages. In these locales, investors should be mindful of seasonal swings and local regulations, but the overarching theme is that Washington’s natural beauty and recreational offerings create enduring demand for getaway properties.

In summary, Washington’s vacation and rural markets can diversify an investment portfolio. They tend to have higher short-term rental yields and the potential for significant appreciation, albeit with a bit more volatility and management overhead than the urban markets. Focusing on prime locations (waterfront, ski-in/ski-out, tourist centers) and understanding each area’s rules (such as county rental ordinances) is key to success in these markets.

Investment Property Types: Residential, Commercial & Mixed-Use

Washington provides a full spectrum of property types for investors, each with its own trends and considerations:

Residential (Single-Family & Multifamily): Residential investments range from single-family rental homes to duplexes, fourplexes, and large apartment complexes. In metro areas like Seattle and Bellevue, single-family rentals can be expensive to acquire but are in high demand, especially in neighborhoods near good schools or job centers. Multifamily properties (apartments) are a mainstay investment – Washington’s strong rental market (e.g., Seattle’s 95% occupancy rate (https://www.cbre.com/insights/figures/puget-sound-multifamily-figures-q3-2024)) means consistent cash flow. Smaller cities like Tacoma or Spokane often offer higher cap rates on residential rentals compared to Seattle, which can appeal to cash-flow-focused investors. Statewide, rent growth has been solid in recent years, though newly enacted rent increase limits (see Regulatory section) may temper future hikes. Overall, residential real estate in Washington is underpinned by a housing shortage (the state estimates it needs over 1.1 million new homes by 2040 to meet demand )), making this asset class particularly resilient.
Commercial (Office, Retail, Industrial): Commercial properties in Washington reflect the state’s diverse economy. The office sector is bifurcated – newer suburban offices (like those in Bellevue or Redmond) are performing well, while some older urban offices struggle with vacancy post-pandemic. Investors targeting office assets should focus on prime locations or consider repurposing opportunities for under-utilized buildings. The retail sector has rebounded in places with strong consumer spending (Seattle metro, affluent suburbs, tourist towns). High street retail in Seattle or Bellevue and well-located suburban shopping centers are seeing low vacancy, although retail must adapt (experience-based tenants, etc.) to remain vibrant. Industrial/logistics real estate is a standout: warehouse space near Seattle’s airport or port, in the Kent Valley, and even in central Washington (for data centers and manufacturing) is in high demand. Despite a wave of construction, industrial vacancy in greater Seattle-Tacoma remains in the mid to high single digits, and long-term growth in e-commerce and trade should support this segment. For investors, commercial properties can offer higher returns but also come with exposure to economic cycles in each industry.
Mixed-Use Developments: Mixed-use properties (combining residential, office, retail, or other uses) are increasingly common, especially in urban centers and fast-growing suburbs. Washington’s cities have encouraged mixed-use projects through zoning – for instance, new apartment buildings in Seattle often include ground-floor retail. These properties allow investors to diversify income streams (e.g., apartments plus retail rents) within one asset. A mixed-use building in a downtown area can capture both the rising residential rents and the recovery of urban retail. However, they also require management of different property types simultaneously. Mixed-use investments have thrived in areas like Bellevue’s downtown (residential towers atop shopping podiums) and Seattle’s South Lake Union (live-work-play communities built to serve tech employees). As cities continue to emphasize walkable, 18-hour neighborhoods, mixed-use developments should remain a prominent opportunity.

Risks & Regulatory Considerations

No investment is without risk, and Washington real estate investors should be mindful of the regulatory and market challenges in the state:

Affordability & Policy Response: Washington’s rapid price increases have created affordability pressures. Seattle’s median home price, for example, is over 110% higher than the U.S. average (https://www.redfin.com/city/16163/WA/Seattle/housing-marke), putting homeownership out of reach for many and leading to political action. In 2023–2025, policymakers introduced measures to address housing costs. Most notably, Washington passed a statewide cap on residential rent increases – landlords generally cannot raise rents by more than 10% in a year under the new law (https://washingtonstatestandard.com/2025/05/07/cap-on-rent-increases-across-washington-is-signed-into-law/). This legislation (effective 2025) aims to protect tenants from extreme hikes, but it also means investors must adjust projections for rent growth. Additionally, some local jurisdictions (like Seattle) have considered or enacted tenant protections such as required notice periods for rent hikes, “just cause” eviction rules, and caps on move-in fees. Investors should stay updated on local ordinances, as the push for affordability could continue in the form of further rent stabilization, increased property taxes, or stricter development fees to fund affordable housing.
Zoning Changes & Development Regulations: Washington’s cities historically had restrictive zoning (e.g., large swaths of single-family-only neighborhoods). However, reforms are underway. In 2023, the state enacted a “middle housing” law (HB 1110) that allows up to 4 units on traditionally single-family lots in many cities (https://medium.com/wagovernor/wa-goes-big-on-housing-in-2023-cc9df87bf4d5). This is a significant shift, intended to encourage duplexes, triplexes, and fourplexes to increase housing supply. For investors and developers, these upzoning measures present new opportunities – for instance, one could redevelop a single house into a fourplex in the coming years in certain locales. On the flip side, navigating the permitting process remains a challenge; Washington is known for rigorous environmental and building regulations that can prolong development timelines. Urban growth boundaries (especially around the Seattle metro) limit sprawl, which helps existing property values but constrains new inventory. The bottom line: zoning is becoming more flexible in favor of density, which is a positive for long-term supply and possibly for those looking to add units to properties. Yet, it’s crucial to conduct due diligence on what is permissible on a given lot and account for the time and cost of compliance with codes (like energy efficiency standards, stormwater requirements, etc.).
Tenant Rights & Landlord Considerations: Washington tends to be moderately tenant-friendly, particularly in cities. Seattle, for instance, requires landlords to give 60+ days notice for significant rent increases and provides relocation assistance to low-income tenants if rent hikes exceed 10% (under a city ordinance). During the COVID-19 pandemic, eviction moratoriums in Seattle and statewide demonstrated the state’s inclination to protect renters during crises. While most of those temporary measures have expired, the legacy is a heightened awareness of tenant rights. Landlords in Washington must follow strict procedures for evictions (Seattle has “just cause” eviction requirements), and there are limitations on screening criteria and deposits. Investors should factor in that evicting a non-paying tenant can be a longer process than in some states, and maintaining a property to code (for example, Seattle’s rental inspection program) is mandatory. Good property management and familiarity with the Residential Landlord-Tenant Act (the state law governing rentals) are essential to mitigate these risks.
Market Cyclicality: While the outlook is broadly positive, Washington’s real estate is not immune to economic cycles. The reliance on big tech and aerospace means that an industry-specific downturn (say, a tech recession or Boeing production cuts) could temporarily soften demand in certain regions. Interest rate fluctuations also impact these markets – the rapid rise in mortgage rates in 2022-2023 led to a brief dip in home prices in some areas, illustrating sensitivity to financing costs. Additionally, property taxes in Washington, particularly for expensive homes, can be significant (Washington has no state income tax, so municipalities rely more on property and sales taxes). For commercial investors, business cycles affect occupancy – e.g., if there’s an oversupply of new apartments or if remote work persists longer, some assets might face pressure. Diversification across property types and regions within the state can help hedge against these cyclical risks.

Market Outlook 2025–2030: Trends & Forecasts

The mid-term outlook for Washington’s real estate market (2025–2030) is optimistic, albeit with a tempered pace compared to the explosive growth of the past decade. Economic forecasts predict that Washington will continue to outperform many states in job and population growth. The consensus among real estate analysts is that home prices in Washington will see steady appreciation in the next five years, likely in the mid-single-digit percentages annually, assuming interest rates stabilize or decline slightly. This means values should keep rising, but at a more gradual and sustainable rate – a positive sign for investors looking for growth without a bubble.

Residential trends: From 2025 to 2030, we expect the housing supply to slowly expand thanks to the recent zoning reforms and large-scale development efforts. Metro areas will likely see more infill development (e.g., backyard cottages, townhome communities) and a push toward density around transit lines. However, given the backlog of undersupply, housing shortages (and thus upward pressure on prices and rents) will persist in the near term. Remote work is here to stay in a hybrid form, and that will continue to shape demand: suburbs and smaller cities should remain popular, but Seattle’s urban core will also thrive as cultural and office activities rebound. Millennials entering their prime homebuying years and Gen Z renters starting households will keep the residential market engaged. We may also see increased institutional investment in single-family rentals in suburbs of Seattle/Tacoma, mirroring a national trend.

Commercial trends: The office market in Washington is expected to gradually recover by the late 2020s, though it may not return to pre-2020 norms. We anticipate a flight to quality – newer, greener office buildings in prime locations will lease up, while older offices may be candidates for conversion to residential or mixed-use. Retail should continue its evolution toward experiential and service-oriented tenants, but overall retail vacancy is projected to remain low in strong markets (e.g., Bellevue, affluent suburbs). Industrial real estate outlook is very strong: With Seattle’s position as a trade gateway to Asia and the continued growth of e-commerce, warehouse space in the Seattle-Tacoma corridor and even eastern Washington (for distribution centers) will be in high demand. Rents for industrial properties are forecasted to climb, and developers are expanding logistics parks to keep up.

Another factor is infrastructure and events. By 2030, several Sound Transit light rail projects will be complete or nearing completion – connecting Seattle to Everett, Tacoma, Bellevue/Redmond, and more. These transit improvements are expected to be game changers for local real estate, creating new hotspots around stations (from Lynnwood to Federal Way). Additionally, Seattle’s role as a host city for the 2026 FIFA World Cup and potentially other global events can provide a short-term boost to hospitality and spur some infrastructure upgrades. Such developments enhance Washington’s profile and can inject additional investment into real estate (for example, international investors often take interest in markets spotlighted by global events).

On the policy front, the focus on housing affordability will likely continue. We might see further state initiatives to streamline permitting or incentivize affordable housing construction. If the rent cap law succeeds in curbing extreme rent hikes without stifling development, it may be extended beyond its initial 15-year horizon. Investors can expect Washington to maintain a balance – encouraging growth and investment but also imposing measures to ensure that growth is inclusive and sustainable.

In summary, the 2025–2030 outlook for Washington real estate is one of measured growth and diversification. Investors who take a long-term view will find that the state’s fundamental strengths – a strong economy, desirable location, and controlled supply – provide a solid foundation for continued real estate appreciation. Being selective and informed about sub-markets and asset types will be crucial, but Washington should remain a top-tier choice for real estate investment in the latter half of the decade.

Conclusion: Exploring Opportunities in Washington

Washington State’s real estate market in 2025 is brimming with opportunities for the savvy investor. Whether one is eyeing a high-rise apartment in Seattle, a tech campus in Redmond, a suburban duplex in Tacoma, or a lakefront rental in Chelan, the state offers a compelling mix of growth, stability, and diversity. By staying attuned to economic drivers and mindful of local regulations, investors can position themselves to capitalize on Washington’s upward trajectory. As the market evolves through 2030, those investing in Washington real estate will be part of a dynamic story of innovation and expansion in the Pacific Northwest.

Ready to take the next step? To explore current investment listings across Washington – from commercial properties to multifamily and more – visit Brevitas and browse our curated Washington listings. Opportunities span the entire state, and with Washington’s growth set to continue, now is an excellent time to find your next investment. Happy investing!