Contact: data@mbaks.com

While our local inventory is rising, we are still the lowest in Washington State, with the state average at 2.17. Months of inventory in June 2024 were Snohomish (1.37), King (1.94), and Pierce (2.00). As the inventory grows, it is evident that mortgage rates are a large player in affordability regarding housing market worries.

Read the full July Builders Bulletin:

Homing in on Our Region's Housing Statistics

Multifamily permits jumped again in King County—a 113% increase over the average for the last 12 months. King County was joined this month by a spike in Pierce County multifamily permits (247% over average) and modest growth in Snohomish County multifamily permits (8% over average). 51% of housing permitted for the month in the three-county region was in buildings in King County with five or more units. Two-unit building permits are also up 87% over average in King County, possibly due to local ADU policy reforms. Single-family permits remain fairly stable, with slight month-over-month increases in Snohomish and Pierce that are nonetheless at or below the 12-month average for those counties. 

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

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Months' Supply of Housing Inventory

As of September 2021

	King County had 0.68 months' supply of inventory (down from 1.12 months' of inventory a year ago).
	Snohomish County had 0.48 months' supply of inventory (down from 0.56 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

September 2021

	The median price of single-family homes and condos was $745,000 in King County and $650,000 in Snohomish County.
	For single-family homes only, the median price in King County rose 9.55%, from $753,600 a year ago to $825,600. The median price in Snohomish County rose 18.42%, from $569,997 to $675,000.
	In Seattle, the median price of single-family homes and condos was $765,000. The median price for single-family homes only was $850,000, a 3.66% increase from $820,000 in September 2020.

Source: Northwest Multiple Listing Service

 

Building Permit Activity

 

Jobs

	The seasonally adjusted Washington unemployment rate for September 2021 is 4.9%; for Seattle/Bellevue/Everett, it is 4.8%.
	Construction employment in Washington increased by 3,600 between August 2021 and September 2021. Total construction employment is 229,500 statewide and 110,000 for Seattle/Bellevue/Everett specifically.

Source: Employment Security Department: WA Employment Estimates (Seasonally Adjusted), September 2021 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

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FOR IMMEDIATE RELEASE
Media Contact:
Sharon Couts
Master Builders Association of King and Snohomish Counties
425.499.1723

Bellevue, Wash.—November 14, 2016—Seattle was recently named the “crane capital of America” by a Seattle Times article, with 58 cranes currently in operation, an increase of 38 percent in the past year. And these numbers don’t even include cranes located in Bellevue and elsewhere in the Puget Sound area. With more cranes, more possibilities exist for accidents. That is why, beginning in February 2017, the Master Builders Association of King and Snohomish Counties (MBA) and Buildsafe Solutions will be offering free two-day Qualified Signal Person Certification for Mobile Cranes classes. The classes are made available in thanks to a $127,688 grant from State of Washington Department of Labor and Industries’ Safe and Health Investment Projects (SHIP) program.

“We are excited about receiving this grant,” said Shannon Affholter, executive director of the MBA. “Construction site accidents have a huge impact on the construction industry, families, and for anyone affected. We want to prevent accidents. These safety classes teach us how to run equipment properly and keep everyone safe.”

The trainings are free to employers and employees in the construction industry and provide 16 clock hours as well as crane certification. Topics will include crane management, high risks, crane foundations, load charts, range diagrams, crane dynamics, rigging oversight, and signaling, and will provide for a mobile crane signaling protocol and certifications required by the Washington State Department of Labor and Industries.

 

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About the MBA

Founded in 1909, the Master Builders Association of King and Snohomish Counties (MBA) has grown to become the largest residential home builders association in the United States. With 2,800 member companies, the MBA is dedicated to membership value, government advocacy, financial stewardship, and promoting the residential building industry in the Puget Sound Region. The Association and its members address many of the concerns and issues affecting the residential housing industry. If you are looking to buy, build, remodel, or maintain your home, trust the MBA for industry professional referrals and practical information to get the job done. mbaks.com

ABOUT THE SHIP PROGRAM

The goal of the SHIP program is to identify, fund, and assist with the implementation of safety and health projects designed to eliminate workplace injuries, illnesses, and fatalities, because one injury, one illness, one fatality, is one too many.

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