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Month’s supply of housing inventory for both King County and Snohomish County is still below a 2-month inventory, indicating that the market has not yet made the switch into a buyer’s market. Industry analysts consider a 4–6-month supply to be an indication of a healthy market. Snohomish County continues to be the most competitive within the Puget Sound region.

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By MBAKS Senior Policy Analyst Allison Butcher

Housing inventory for sale fell between September and October to 1.74 months’ supply in King County and 1.51 months’ supply in Snohomish County. In both counties, this is down from a year ago. Meanwhile single-family and multifamily building permits were down 6% in the Seattle Metro Area (including King, Snohomish, and Pierce counties) in September compared to the same period last year.

The Builder's Bulletin is intended to provide a convenient way to track housing in our market and includes information from the Northwest Multiple Listing Service, State of the Cities Data Systems, Office of Financial Management and the Washington State Employment Security Department.

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Shannon Affholter is the executive director of the Master Builders Association of King and Snohomish Counties, the largest and oldest local homebuilders association in the nation. Previously, he was the vice president of business and economic development for Economic Alliance Snohomish County. While there, he advanced strategic growth plans, advocated on behalf of business and fostered economic development in the region. He also was elected to serve two terms on the Everett City Council.

Prior to his tenure at Economic Alliance Snohomish County, Affholter was a business development executive at the regional accounting firm of Moss Adams and an account executive with Merck. He holds an MBA from Western Washington University and a Bachelor of Business Administration from Pacific Lutheran University. In The Money Hour segment today, Shannon talks about how the demand for housing has significantly outpaced residential housing supply.