Twenty members of the MBAKS Board of Directors and staff leadership team convened late last week for a two-day retreat at the beautiful Salish Lodge & Spa near Snoqualmie Falls.  The proceedings were facilitated by Donna Franza, Senior Consultant (Advisory Services) at NAHB, who is based in Washington, DC and has deep experience with the Association and our work.

The first day of the retreat began with creating a common understanding of the current state of the Association and of what constitutes good governance.  The team then built awareness of their individual leadership styles, and considered how those can be best leveraged to create a highly functioning Board next year.

Meet the 2025 Board!

After enjoying some evening team building and dinner, the group spent the second day discussing the MBAKS Strategic Plan, the status of its implementation and the extent to which the Association's current structure and activities align with that Plan.

All-in-all, the team left the retreat in a much better place to make home happen, carrying forward MBAKS' Belief, Purpose and Values in the coming year and beyond!

Washington, DC—(RealEstateRama)—Juli Bacon, owner of JB Consulting Systems LLC and Bacon Maintenance Services LLC in Woodinville, Wash., was recently sworn in as the 2017 chair of the National Association of Home Builders (NAHB) Professional Women in Building (PWB) Council.

“Ensuring that women understand they have a place at the table and helping them find a way to get to that place at the table in construction is really important to me,” said Bacon. “We have a lot of young women wanting to know how to get there and my goal as the PWB chair is to help them in the most efficient way possible.”

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

Icons made by Freepik from flaticon.com