Apartment Insights reports that rents surged 2.6% in Q2 of 2011. The statistics were for King & Snohomish markets.
The vacancy rate dropped to 4.69%. The last time it was this low was 2007 Q4.
The highest vacancy rate was 7.2% in 2009 Q2.
I personally have seen rentals go quickly lately, and rental prices go up. Although rentals are seasonal. This is definitely a good time to advertise for a lease. The demand goes down in the winter months just as it does with real estate.