The rental market continues to show tons of steam. In fact, there was a recent story on the Seattle Times about the resurgence of the Pike-Pine corridor on Capitol Hill in particular with a 12% annual leap in rents in that neighborhood. Dupre+Scott has some awesome charts showing trends for King County overall.
Anecdotally, I had one client rent out her condo with a 10% boost in rent within the same day she posted it on Craig's List (3 applications in a few hours) and another client trying to rent a house and has had the hardest time finding a place that isn't swallowed up by the time they make the decision to pull the trigger (usually only a few days).
If this keeps up, I think we'll be in great shape next year as the Seattle real estate recovery continues to gather some momentum.