Master Builders’ Rampathon event provides free ramps for local residents and organizations

By Cameron Poague, Bothell Kenmore Reporter

There's an expression that says you should enjoy the small things in life.

Going outside and enjoying a walk on a sunny day, for example. Or getting to work or school and back without assistance or inconvenience. For too many, these tasks are burdensome and dangerous. For a few, getting safely to and from their homes has become downright impossible.

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The Seattle metropolitan area saw a significant increase in multifamily permit activity in 2021 compared to the previous year, led by King and Pierce counties—up 71% and 31% respectively. More than 22,000 multifamily permits were issued in the three-county metro area last year, surpassing pre-pandemic levels of fewer than 19,000 multifamily homes in 2018 and 2019. Single family permits were also up 24% in Pierce County year-over-year. Meanwhile, Snohomish County had a modest decrease in permits last year compared to 2020. King County ended the year down 8% for single family permits.

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Months' Supply of Housing Inventory

As of January 2022

	King County had 0.49 months' supply of inventory (down from 0.92 months' of inventory a year ago).
	Snohomish County had 0.33 months' supply of inventory (down from 0.41 a year ago).

Many industry analysts consider a four-to-six-month level as an indicator of a healthy market.

Source: Northwest Multiple Listing Service

Median Home Price

January 2022

	The median price of single-family homes and condos was $720,000 in King County and $686,792 in Snohomish County.
	For single-family homes only, the median price in King County rose 6.90%, from $725,000 a year ago to $775,000. The median price in Snohomish County rose 19.17%, from $599,990 to $715,000.
	In Seattle, the median price of single-family homes and condos was $729,000. The median price for single-family homes only was $790,000, a 0.19% decrease from $791,471 in January 2021.

Source: Northwest Multiple Listing Service

Building Permit Activity

Jobs

	The seasonally adjusted Washington unemployment rate for January 2022 is 4.4%; for Seattle/Bellevue/Everett, it is 3.5%.
	Construction employment in Washington increased by 500 between December 2021 and January 2022. Total construction employment is 228,100 statewide and 101,900 for Seattle/Bellevue/Everett specifically.