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January Builders Bulletin: Housing Inventory in King and Snohomish Counties Remains Low

Despite Increase As of December 2024, the housing inventory in King County stood at 1.6 months’ supply, a slight increase from 1.4 months in December 2023. Similarly, Snohomish County experienced a rise in housing inventory, reaching 1.1 months’ supply, up from .9 months the previous year. While these numbers reflect a modest improvement, they remain well below the four- to six-month supply level that many industry analysts consider indicative of a healthy market.

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By MBAKS Senior Policy Analyst Allison Butcher

The number of multifamily permits pulled in King, Snohomish, and Pierce counties rose 53 percent during the first quarter of 2017, compared to the same period last year. Single-family permits declined 8 percent. Meanwhile, King and Snohomish counties continue to see less than a months’ supply of housing inventory for sale during April. The low supply coupled with strong demand has continued to drive home prices up.

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, U.S. Census Bureau, Office of Financial Management and the Washington State Employment Security Department.

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By MBAKS Senior Policy Analyst Allison Butcher

Seattle Metro Area Sees Uptick in Single Family Permits in 2016

King County ended 2016 with a 7 percent increase in single-family permit activity compared to 2015 and a 7 percent decline in multifamily permits, according to U.S. Census Bureau data. Meanwhile, Snohomish County saw a 13 percent increase in single family permits and a 2 percent increase in multifamily permits at year's end. Both counties continued to have less than one month's supply of housing inventory for sale during January 2017.

The Builders' Bulletin is intended to provide a convenient way to track housing in our market and includes information from the Northwest Multiple Listing Service, U.S. Census Bureau, Office of Financial Management and the Washington State Employment Security Department.

Download this month's report: