By MBAKS Senior Policy Analyst Allison Butcher

Data on jobs released by the Puget Sound Regional Council recently show the four-county region added 362,800 jobs between 2010 and 2017. At this pace, the region continues to add more than three jobs for every housing unit, placing continued strong demand on housing.

As this month’s Builder’s Bulletin shows, we’re seeing more of the same with a very low inventory of homes for sale and rising home prices in King and Snohomish counties. Meanwhile, King, Snohomish, and Pierce counties experienced a 32 percent decrease in multifamily permits the first two months of this year, compared to the same period last year. Single family permits are up 10 percent in King and Pierce counties and down 22 percent in Snohomish County.

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, State of the Cities Data Systems, Office of Financial Management and the Washington State Employment Security Department.

Download this month's report:

By The Everett Herald staff

BELLEVUE—Former Everett Councilman Shannon Affholter is preparing to resign as executive director of the Master Builders Association of King and Snohomish Counties next month to become chief operating officer for a major Pacific Northwest land-development company.

By MBAKS Senior Policy Analyst Allison Butcher

Low Inventory Driving Home Prices Up

The latest Builder's Bulletin for February 2017 shows a continued decline in the inventory of homes for sale in King and Snohomish counties and prices still on the rise. According to the Northwest Multiple Listing Service, in December 2016, both counties had less than a months' supply of inventory, far below the four to six month level considered by many industry analysts as an indicator of a healthy market. Meanwhile, the December median home price for single-family homes and condos was up 12.2 percent year-over-year in King County and 12.4 percent in Snohomish County.

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: