Contact: data@mbaks.com

Permit activity continues to trend downward across the Seattle metro area.

Through July 2025, King, Snohomish, and Pierce Counties collectively issued 3,742 single-family permits, a 7% decline compared to the same period in 2024. Multifamily permitting has slowed even more sharply, with 3,758 units permitted year-to-date, a 37% drop from last year. These figures highlight ongoing headwinds in the housing pipeline at a time when demand remains elevated.

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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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Listen: The Dunn Lumber Podcast: Document, Document, Document, recorded live September 29 at the Master Builders Association Remodelers Council Dinner. Shelli Lucus-Kennedy tells us how to lower insurance rates and decrease liability using firsthand experience and real-world examples.

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