By MBAKS Senior Policy Analyst Allison Butcher

June housing data from the Northwest Multiple Listing Service show a growing inventory of homes for sale, with 1.34 months’ supply available in both King and Snohomish counties. This marks the first time the housing measure has exceeded one month’s supply since September 2020 in King County and May 2020 in Snohomish County. While this moves us toward greater balance in the market, many analysts consider a four-to-six-month level as an indicator of a healthy market.

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By Erich Armbruster, Ashworth Homes, The Lens News

One of the biggest challenges facing our region is a lack of attainable housing, especially near job centers. Continued growth is driving the demand for more housing and the strong demand is outpacing supply, causing home prices and rents to soar. This is making housing increasingly out of reach for families and workers and threatening our area’s quality of life.

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By MBAKS Senior Policy Analyst Allison Butcher

The near-record-low 2.6% unemployment rate for Seattle/Bellevue/Everett seen in February rose to 5.5% in March, according to the latest monthly employment report, which shows the first wave of job losses from the COVID-19 pandemic. The Employment Security Department notes the impacts on jobs are more likely to be evident in the April report. Meanwhile, housing indicators from the latest Builders Bulletin do not yet reflect the impact of coronavirus on real estate and new home construction. The report shows year-over-year median home price increases in March and rising permits in February.

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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