By MBAKS Senior Policy Analyst Allison Butcher

The January jobs report was just released on March 16 and showed improvement from the prior month. Washington’s unemployment rate fell from 7.1% in December 2020 to 6.0% in January 2021. The January unemployment rate in the Seattle metropolitan area was 5.8%. The March Builders Bulletin also includes year-end permit totals for 2020, which were relatively flat for single-family. In contrast, multifamily permits fell 17% in King, Snohomish, and Pierce counties in 2020 compared to 2019.

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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By MBAKS Senior Policy Analyst Allison Butcher

June housing data from the Northwest Multiple Listing Service show a growing inventory of homes for sale, with 1.34 months’ supply available in both King and Snohomish counties. This marks the first time the housing measure has exceeded one month’s supply since September 2020 in King County and May 2020 in Snohomish County. While this moves us toward greater balance in the market, many analysts consider a four-to-six-month level as an indicator of a healthy market.

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Contact: data@mbaks.com

March 2026 Builders Bulletin: Building Permits Slowed in 2025

The March Builders Bulletin features recently released permit data for the Seattle metropolitan area through December 2025. Our three-county metro area (King, Snohomish, and Pierce counties) ended the year with 12% fewer total permits issued than the previous year. This figure reflects a 5% decline in single family permits and a 16% drop in multifamily permits.

Despite the regional slowdown, King County saw a modest bump in single family permits in 2025 while Pierce County experienced an increase in multifamily permits. See the Building Permits section for a complete breakdown by county.

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