By MBAKS Senior Policy Analyst Allison Butcher

The latest Builder’s Bulletin shows just over two months’ supply of homes for sale in King and Snohomish counties during November. While this is an increase from the less than one months’ supply a year ago, it is still below the four-to-six-month level that many industry analysts consider as an indicator of a healthy market. Median home prices fell month-over-month from $613,509 to $605,000 in King County and rose from $445,000 to $450,000 in Snohomish County.

The Builders' 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.

Download this month's report:

We took a break from our Painting a Better Tomorrow® volunteer day at YouthCare to talk to their director of community engagement. YouthCare works to help homeless youth become self-sufficient. This year's Painting a Better Tomorrow was sponsored by Capital Benefit Services.

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Contact: data@mbaks.com

Significant changes are evident in the building permit landscape for the Seattle Metro Area, encompassing King, Snohomish, and Pierce counties, based on data as of November 2023. Single-family permits total 5,501, reflecting a year-to-date (YTD) decrease of 20% compared to the same period in 2022. Concurrently, multifamily permits stand at 10,175, indicating a more substantial YTD decline of 44% compared to the previous year. These figures underscore a notable downturn in both single-family and multifamily permits.

Read the full January Builders Bulletin: