By MBAKS Senior Policy Analyst Allison Butcher

Home Prices Continue Upward Climb

Median single family home prices surged nearly 14 percent in King and Snohomish counties in June compared to a year ago, according to the Northwest Multiple Listing Service (MLS). The median price was $653,000 in King County and $450,000 in Snohomish County. In Seattle the median single family home price rose 12.53 percent to $750,000.  Meanwhile, with 0.84 months’ supply of housing inventory, King County continued to have the tightest inventory of the 23 counties in the Northwest MLS market area. 

The Builders’ Bulletin is intended to provide a convenient way to track housing in our market and includes information from the Northwest Multiple Listing Service, U.S. Census Bureau, Office of Financial Management and the Washington State Employment Security Department.

Download this month's report:

FOR IMMEDIATE RELEASE
Media Contact:
Caia Caldwell, Public Relations & Media Specialist
Master Builders Association of King and Snohomish Counties
p 425.460.8213
m 717.479.1231

Sen. Palumbo, Matthew Gardner to Speak at Housing Solutions Breakfast

There is growing momentum in Olympia for housing reform in the upcoming 2019 legislative session. Come hear a wide range of views from the Seattle area’s top housing experts as we work to increase housing supply and address our housing affordability crisis. Featuring Sen. Palumbo and chief economist for Windemere Real Estate, Matthew Gardner, the breakfast will include researchers, policy makers, and business professionals. Legislative priorities will be discussed, including condominium liability reform and the establishment of an urban net density standard in residential zones. Sen. Palumbo will make himself available to the media following his presentation. #HousingActionNow

More information on speakers and panelists: mbaks.com/hsb

About MBAKS

Founded in 1909, the Master Builders Association of King and Snohomish Counties has grown to become the largest residential homebuilders association in the United States. With nearly 3,000 member companies, the association is dedicated to membership value, housing advocacy, community service, and financial stewardship throughout the Puget Sound region. 

Contact: data@mbaks.com

In the Seattle Metro Area, the building permit data for the year-to-date period ending on August 31, 2023, paints a distinctive picture of the region's construction activity. There were 4,021 single-family permits issued during this time, reflecting a substantial 28% decrease compared to the same period in 2022. Similarly, the multifamily segment also saw a noteworthy decline, with 7,851 permits issued, indicating a substantial 46% decrease from the prior year. These statistics show a notable slowdown in both single-family and multifamily construction projects.

Read the full October Builders Bulletin: