Contact: data@mbaks.com

Amidst economic fluctuations, the construction sector in Washington is grappling with challenges. Recent data reveals a 10,800-job decline in construction employment between February 2023 and February 2024. The state’s overall construction workforce now stands at 225,800.

Read the full April Builders Bulletin:

 

Master Builders Association of King and Snohomish Counties (MBKAS) has once again partnered with Gelotte Hommas Drivdahl Architecture (GHDA) to produce a project for Gingerbread Village—on display now through January 1, 2025 at the Sheraton Grand Seattle.

This year’s theme is Iconic Destinations. Our project is “Vive La Paris." The display showcases many recognizable Paris landmarks and offers a few special surprises you won’t want to miss.

 

Project lead Eric Drivdahl designed and constructed this year’s gingerbread project with help from his talented team at GHDA and a dedicated group of volunteers.

Special thanks to MBAKS’ Mike Pattison and Allison Butcher who contributed many hours to the project and Amber Snellgrove for crafting fondant characters for the display; Joe White of Corner 2 Corner Builders Llc for building the bases for our project; MBAKS 1^st Vice President Jennifer Tennyson for volunteering during the construction phase; and our Breakthrough T1D Elf Lina and her family for their help and support from developing the design to the reveal day ceremony.

Support Breakthrough T1D and Diabetes Research
While this event is free, a $5 donation is recommended, and all proceeds go to Breakthrough T1D (formerly JDRF). You can donate online by voting for your favorite project. Please vote for Paris, France/Elf Lina to help support this great cause.

Visiting Gingerbread Village
Add to your holiday fun list by visiting our project! Viewing hours are 9am to 9pm Sunday through Thursday, and 9am to 11pm Friday and Saturday between now and New Year’s Day.

Homing in on Our Region's Housing Statistics

Housing inventory remains low and housing prices continue to rise, with a 19.73% and 21.74% increase in median single-family home prices in King County and Snohomish County, respectively. In more optimistic news, construction employment in the Seattle-Bellevue-Everett metro area has hit a record high.

Please contact data@mbaks.com with questions or feedback. 

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Months' Supply of Housing Inventory

As of July 2021

	King County had 0.66 months' supply of inventory (down from 1.13 months' of inventory a year ago).
	Snohomish County had 0.53 months' supply of inventory (down from .73 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

July 2021

	The median price of single-family homes and condos was $789,000 in King County and $675,000 in Snohomish County.
	For single-family homes only, the median price in King County rose 19.73%, from $727,500 a year ago to $871,000. The median price in Snohomish County rose 21.74%, from $575,000 to $700,000.
	In Seattle, the median single-family home price for July was $896,500, an 11.37% increase from July 2020.

Source: Northwest Multiple Listing Service

 

Building Permit Activity

 

Jobs

	The Washington unemployment rate for July 2021 is 5.1%; for Seattle/Bellevue/Everett, it is also 5.1%.
	Construction employment in Washington increased by 1,900 between June 2021 and July 2021. Total construction employment is 226,700 statewide and 110,800 for Seattle/Bellevue/Everett specifically.

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