By MBAKS Senior Policy Analyst Allison Butcher

Data in the latest Builders Bulletin show a mixed bag for building permit activity in the first half of 2022. Multifamily permits in the Seattle Metro Area rose 20% in June, compared to the same period last year, led by King County where it was up 30%. Multifamily permit activity was relatively flat in Snohomish and Pierce counties.

Meanwhile, single family permits are down 17% across the Seattle Metro area as of June. Separately, the NAHB/Wells-Fargo Housing Market Index, which measures the confidence of single-family builders nationwide, has been falling amid higher interest rates and ongoing supply chain problems. Read NAHB’s latest press release on its builder confidence survey.

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The City of Bellevue has launched an update to the Bellevue Map Viewer - its interactive map platform. Members of the community can access more development and construction information, including building permits for new and altered single family and multifamily projects, right of ways, fire, utilities, and land use actions.

To explore the permit data layer, access Bellevue Map Viewer on the main Maps and GIS page, select the "Permits" layer and ZOOM in.

Please contact rbc@mbaks.com with any questions.

Contact: data@mbaks.com

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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