By MBAKS Senior Policy Analyst Allison Butcher

According to the Northwest Multiple Listing Service, May was the first time King County had more than a month's supply of homes for sale since September 2017. It was only the third time since October 2016. However, this is still far below the four-to-six month level that many industry analysts consider as an indicator of a healthy market.

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, State of the Cities Data Systems, Office of Financial Management and the Washington State Employment Security Department.

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Contact: data@mbaks.com

February 2026 Builders Bulletin: Housing Inventory Rises

Mortgage interest rates continued to trend lower in January as housing inventory for sale increased. While this shift offers some relief for homebuyers, other indicators in the February Builders Bulletin point to continued headwinds for the housing market, including higher unemployment in Washington state and the Seattle region in December and declining builder confidence in January.

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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.

Read the full January Builders Bulletin: