By MBAKS Senior Policy Analyst Allison Butcher

Data from the Northwest Multiple Listing Service show the month’s supply of housing inventory for sale continuing to decline in King and Snohomish counties. In November, King County had 0.93 months’ supply of inventory, down from 0.99 the previous month, and 1.39 months’ of inventory a year ago. Even more concerning, Snohomish County had just 0.38 months’ supply of inventory in November, down from 0.49 the prior month and 1.27 a year ago.

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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Amy King of Square Peg Construction shares the story of how she founded Weld Seattle and how fellow developers can help their mission while also benefiting themselves. Weld is a nonprofit that provides transitional housing and pathways to employment for those in recovery and re-entry into society.  

See how you can help

Contact: data@mbaks.com

Housing Market Shows Modest Inventory Gains Amid Rising Prices and Slowing Construction

Housing inventory in King and Snohomish counties improved slightly in March 2025 but remains below healthy market levels, with King County at 1.9 months' supply and Snohomish County at 1.4. Median home prices continued to rise, reaching $977,500 in King County and $790,000 in Snohomish County for single-family homes. Builder confidence declined sharply, with the national Housing Market Index falling 22% year over year to 40 and the Western regional index at 35. Construction activity also slowed, as single-family and multifamily permits in the Seattle metro area fell 6% and 5% respectively compared to last year, and Washington’s construction employment dropped by over 12,000 jobs.

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