The Master Builders Association of King and Snohomish Counties (MBAKS) held our annual Snohomish County Elected Officials Reception on Wednesday, June 17 at Rosehill Community Center in Mukilteo. The event drew elected officials and other local leaders from throughout the County and gave us a chance to thank them for their leadership and willingness to work alongside us on behalf of housing.

Everett Mayor Cassie Franklin, Marysville Mayor Jon Nehring, and Lynnwood Mayor George Hurst joined a panel discussion on how implementation of middle housing state laws is going in their communities, moderated by Snohomish County Builders Council Chair Ian Faulds of Sanbell.

The mayors shared insights on lessons learned related to middle housing development in their cities, as well as lessons from other cities they're applying to their own. Panelists spoke about the importance of aligning regulations with their long-term planning to provide more predictability, advancing permit streamlining measures, and establishing a culture in city government that views housing as a priority.

Mayors Franklin, Nehring, and Hurst also shared where they see the greatest opportunity for cities and builders to work together over the next few years, and what success would look like for housing in their cities. All three mayors agreed it is vital to engage and partner with the building community in this work. They described a vision for the future that meant more residents could afford to live and work in their communities, with housing options available to families and individuals at all stages of life.

MBAKS's Executive Director Jerry Hall rounded out the program by encouraging local leaders to consider all policies through a housing lens.

In case you missed it, view our takeaways from the event and our new middle housing resource to learn more about MBAKS's work on lowering barriers to middle housing options in the County.

Thanks to all the elected officials and MBAKS members who attended and helped make it a fun evening! If you missed this event, there's still time to register for the Seattle Builders Council Reception — July 29, 5:00–7:00 p.m. at Courtyard by Marriott Seattle Downtown/Pioneer Square.

Shannon interviews Lynn Eshleman of Pacific Ridge Homes at our annual Crab Feed and Elected Officials Reception. Shannon and Lynn discuss the big issues facing Snohomish County residential building professionals.

Learn more about our advocacy efforts

Homing in on Our Region's Housing Statistics

By MBAKS Senior Policy Analyst Allison Butcher

Median home prices continued their upward trend in February, rising to $759,735 in King County and $700,250 in Snohomish County. The median price of a single family home meanwhile was $857,750 and $745,725 respectively.

Please contact data@mbaks.com with questions or feedback. We want to know what data would be useful to you!

Months' Supply of Housing Inventory

As of February 2022

	King County had 0.55 months' supply of inventory (down from 0.85 months' of inventory a year ago).
	Snohomish County had 0.41 months' supply of inventory (down from 0.42 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

February 2022

	The median price of single-family homes and condos was $759,735 in King County and $700,250 in Snohomish County.
	For single-family homes only, the median price in King County rose 14.37%, from $750,000 a year ago to $857,750. The median price in Snohomish County rose 19.49%, from $624,075 to $745,725.
	In Seattle, the median price of single-family homes and condos was $760,000. The median price for single-family homes only was $925,000, a 15.91% increase from $798,000 in February 2021.

Source: Northwest Multiple Listing Service

Building Permit Activity

Jobs

	The seasonally adjusted Washington unemployment rate for February 2022 is 4.3%; for Seattle/Bellevue/Everett, it is 3.4%.
	Construction employment in Washington increased by 2,500 between January 2022 and February 2022. Total construction employment is 230,600 statewide and 105,200 for Seattle/Bellevue/Everett specifically.

Source: Employment Security Department: WA Employment Estimates (Seasonally Adjusted), February 2022 and Bureau of Labor Statistics.

Population

The Puget Sound region's population as of April 1, 2021 was 4,330,400. Over the past year, the region added 66,200 people, as follows:

Source: Office of Financial Management

Icons made by Freepik from flaticon.com