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.

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While home prices are falling month-over-month, they are still higher than where they were a year prior. In King County, single-family median home prices are up 12.22% from November 2021, and in Snohomish County they are up 5%.

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Seattle Metro Permit Volume Drops in Q1 2025

New permit data show a 33% decline in permits in the Seattle metro area in the first quarter of 2025 compared to the same period last year. While single family permits saw a modest increase in King and Pierce counties through March of this year, they fell 43% in Snohomish County. Multifamily permits were down 46% across our metro area during Q1 2025 compared to last year, with the biggest decline in King County. Pierce County was the only county to see an increase in multifamily permits during the first quarter.

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