Homing in on Our Region's Housing Statistics

By MBAKS Senior Policy Analyst Allison Butcher

Median home prices continued their upward trend in February, rising to $759,735 in King County and $700,250 in Snohomish County. The median price of a single family home meanwhile was $857,750 and $745,725 respectively.

Please contact data@mbaks.com with questions or feedback. We want to know what data would be useful to you!

Months' Supply of Housing Inventory

As of February 2022

	King County had 0.55 months' supply of inventory (down from 0.85 months' of inventory a year ago).
	Snohomish County had 0.41 months' supply of inventory (down from 0.42 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

February 2022

	The median price of single-family homes and condos was $759,735 in King County and $700,250 in Snohomish County.
	For single-family homes only, the median price in King County rose 14.37%, from $750,000 a year ago to $857,750. The median price in Snohomish County rose 19.49%, from $624,075 to $745,725.
	In Seattle, the median price of single-family homes and condos was $760,000. The median price for single-family homes only was $925,000, a 15.91% increase from $798,000 in February 2021.

Source: Northwest Multiple Listing Service

Building Permit Activity

Jobs

	The seasonally adjusted Washington unemployment rate for February 2022 is 4.3%; for Seattle/Bellevue/Everett, it is 3.4%.
	Construction employment in Washington increased by 2,500 between January 2022 and February 2022. Total construction employment is 230,600 statewide and 105,200 for Seattle/Bellevue/Everett specifically.

Source: Employment Security Department: WA Employment Estimates (Seasonally Adjusted), February 2022 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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FOR IMMEDIATE RELEASE
Media Contact:
Stephanie Giralmo, Public Relations & Media Manager
Master Builders Association of King and Snohomish Counties
p 425.457.7048

MBAKS Announces 2023 REX/T-REX (Remodeling Excellence and Trades Remodeling Excellence) Awards Winners

BELLEVUE, Wash.—May 6, 2023—For the 37th year in a row, the Master Builders Association of King and Snohomish Counties (MBAKS) hosted their annual Remodeling/Trades Remodeling Excellence (REX/T-REX) Awards.

The REX/T-REX Awards, presented by the Remodelers Council of MBAKS, encourages local remodelers and builders to submit their best projects of the year. Each submission is reviewed by a panel of remodeling professionals from across the country and winners are selected in each category. The categories are: Design, Interior/Exterior Details, Bath, Kitchen, Addition, Outdoor Living, Major Remodel, Historical, ADU/DADU, Green Remodel, Aging in Place, and Get Away Room/Basement.

REX/T-REX entries were judged on the following categories:

1. Aesthetics—How is the remodel visually appealing?
2. Special or unique design solutions—How was the space planned and was livability considered?
3. Quality workmanship—What are the special features of the project and is there attention to detail?
4. Use of appropriate building material—Does the remodel complement existing structure and design?
5. Budgetary consideration—How did the project keep within the budget and still deliver client expectations?
6. Challenges and obstacles—Were there any unexpected obstacles that called for adjustments?

2023 REX/T-REX Winners

About the Master Builders Association of King and Snohomish Counties

Founded in 1909 and headquartered in Bellevue, Washington, the Master Builders Association of King and Snohomish Counties (MBAKS) is one of the nation’s oldest and largest local homebuilders associations. Like our founders, our members continue to take a leading role in all facets of homebuilding and support the planning for a growing region. From new technology to advances in sustainability, from collaborative public policy efforts to investing in our communities, our commitment to a thriving, inclusive and well-planned region never wavers. We are the professional homebuilders, architects, remodelers, tradespeople (carpenters, framers, roofers, plumbers, electricians), planners and engineers, suppliers, manufacturers, and sales and marketing professionals in your community who believe everyone deserves access to a healthy and productive place to call home.

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By Cameron Poague, Bothell Kenmore Reporter

There's an expression that says you should enjoy the small things in life.

Going outside and enjoying a walk on a sunny day, for example. Or getting to work or school and back without assistance or inconvenience. For too many, these tasks are burdensome and dangerous. For a few, getting safely to and from their homes has become downright impossible.