Help a service organization in your community!

MBAKS is currently accepting applications for our 15th Anniversary of Painting a Better Tomorrow.

Don't miss out on the opportunity to help a service organization in your community get their environment spruced up with a new coat of paint! We will be accepting applications for this year's event until July 31.

We're especially excited for this year's event, taking place on November 18 at a location to be determined, as 2017 marks 15 years of helping our community members brighten their days (and walls)! We encourage all service organizations in King and Snohomish counties to apply. We are aware that the aesthetic improvements of painting are also the easiest costs to cut from the annual budget in order to provide funding for crucial service needs to the community. To be considered, the organization must have a space that's in need of upkeep. That's it! Oh, and they also have to apply. We'll do the rest.

We ask you to reach out to organizations in your community and get an application in their hands. And make sure they get their application in by July 31!

Just think—by Thanksgiving, one local organization will be sitting in a beautiful, freshly painted space with one more item crossed off their 2018 budget.

Organizations can apply online or by contacting Michell Filleau-Maas, 425.460.8232 or mfilleau-maas@mbaks.com.

Homing in on Our Region's Housing Statistics

Despite headlines about a housing market cooldown and home prices dipping slightly compared to last month, median housing prices continue to rise year over year, with an 8.03% rise and a 22.29% rise in King and Snohomish counties, respectively, for combined single family and condo sales. Likewise, for-sale housing supply continues to drop, with both King and Snohomish counties—and much of the state—more accurately described as having weeks of supply, not months. Year over year, months of supply dropped 59% in King County and 37% in Snohomish County. There is at least some relief on the horizon, however, as year to date residential building permit activity is up 30% in our two-county region.

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

Months' Supply of Housing Inventory

As of November 2021

	King County had 0.38 months' supply of inventory (down from 0.93 months' of inventory a year ago).
	Snohomish County had 0.24 months' supply of inventory (down from 0.38 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

November 2021

	The median price of single-family homes and condos was $740,000 in King County and $658,505 in Snohomish County.
	For single-family homes only, the median price in King County rose 12.25%, from $730,500 a year ago to $820,000. The median price in Snohomish County rose 22.79%, from $566,000 to $695,000.
	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 November 2020.

Source: Northwest Multiple Listing Service

Building Permit Activity

Jobs

	The seasonally adjusted Washington unemployment rate for November 2021 is 4.7%; for Seattle/Bellevue/Everett, it is 4.4%.
	Construction employment in Washington increased by 1,800 between October 2021 and November 2021. Total construction employment is 229,400 statewide and 110,200 for Seattle/Bellevue/Everett specifically.

Source: Employment Security Department: WA Employment Estimates (Seasonally Adjusted), November 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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Contact: data@mbaks.com

Significant changes are evident in the building permit landscape for the Seattle Metro Area, encompassing King, Snohomish, and Pierce counties, based on data as of November 2023. Single-family permits total 5,501, reflecting a year-to-date (YTD) decrease of 20% compared to the same period in 2022. Concurrently, multifamily permits stand at 10,175, indicating a more substantial YTD decline of 44% compared to the previous year. These figures underscore a notable downturn in both single-family and multifamily permits.

Read the full January Builders Bulletin: