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In July 2024, Washington’s unemployment rate stood at 4.9%, with the Seattle/Bellevue/Everett area slightly lower at 4.4%. The construction sector faced a significant downturn, losing 14,100 jobs over the past year, bringing total statewide construction employment to 227,400. This decline highlights ongoing challenges in the industry despite overall employment stability.

Read the full August Builders Bulletin:

By MBAKS Senior Policy Analyst Allison Butcher

Single family permits in the Seattle metro area were down 14% and multifamily permits down 6% through the end of May, compared to the same period last year. Meanwhile, the supply of homes for sale continues to be very low—just 1.77 months in King County and 1.49 months in Snohomish County during June. These are just some of the housing statistics you’ll find reported on in the latest Builders Bulletin.

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.

Download this month's report:

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