By MBAKS Senior Policy Analyst Allison Butcher

April marked the second month in a row in King County and the third consecutive month in Snohomish County that the month’s supply of housing inventory was below two months. While this is below the four-to-six-month level—many industry analysts consider as an indicator of a healthy market—the year-over-year gain in inventory is significant.

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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Contact: data@mbaks.com

The median price for single-family homes and condos surged to $820,000 in King County and $715,000 in Snohomish County. In King County, the median price for single-family homes rose by 14% to $914,500, compared to last year. Similarly, Snohomish County witnessed a 9% increase, with the median price climbing to $750,990. These increases reflect a broader trend: the median sales price of homes increased in 19 out of 26 counties and decreased in 7 counties relative to February 2023.

Read the full March Builders Bulletin:

Contact: data@mbaks.com

In September 2024, Washington's unemployment rate stood at 4.8%, with the Seattle/Bellevue/Everett area slightly lower at 4.4%. Between September 2023 and September 2024, construction employment in the state saw a boost, adding 4,700 jobs, bringing the total to 236,600.

Read the full October Builders Bulletin