By MBAKS Senior Policy Analyst Allison Butcher

Single family permits are down 10 percent in the Seattle metro area the first 9 months of the year, compared to the same period last year. The single family permit decline is led by Snohomish County, which is down 25 percent, followed by Pierce County, which is down 14 percent. Within the three-county metro area, the only county to see a slight increase in single family permits through September 2018 was King County, where permits were up four percent.

Meanwhile, multifamily permits are up three percent throughout the metro area. While King County saw a nine percent decline in multifamily permits during the first three quarters of 2018, Snohomish County has experienced an 80 percent increase in multifamily permit activity, and Pierce County is up 35 percent.

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.

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By Allison Butcher, Master Builders Association, The Lens News

Over the past 18 months, five King County cities have adopted a building moratorium, temporarily putting the brakes on new home construction.

While a moratorium is legal, it does not mean it is good policy. At a time when demand for housing is far outpacing housing supply, which drives up both home prices and rents and makes housing less attainable, building moratoria certainly are not good for housing. They also are not good for our economy or the families and workers looking for a home closer to job centers. Furthermore, they potentially could run counter to our region's transportation investments that contemplate the need for more transit-oriented development in certain areas.

By MBAKS Senior Policy Analyst Allison Butcher

Low Inventory Driving Home Prices Up

The latest Builder's Bulletin for February 2017 shows a continued decline in the inventory of homes for sale in King and Snohomish counties and prices still on the rise. According to the Northwest Multiple Listing Service, in December 2016, both counties had less than a months' supply of inventory, far below the four to six month level considered by many industry analysts as an indicator of a healthy market. Meanwhile, the December median home price for single-family homes and condos was up 12.2 percent year-over-year in King County and 12.4 percent 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, U.S. Census Bureau, Office of Financial Management and the Washington State Employment Security Department.

Download this month's report: