Contact: data@mbaks.com

Month’s supply of housing inventory for both King County and Snohomish County is still below a 2-month inventory, indicating that the market has not yet made the switch into a buyer’s market. Industry analysts consider a 4–6-month supply to be an indication of a healthy market. Snohomish County continues to be the most competitive within the Puget Sound region.

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By MBAKS Senior Policy Analyst Allison Butcher

The Office of Financial Management’s (OFM) annual population projections have been released, showing strong continued growth in Washington. The 2020 estimates indicate Washington’s population grew to more than 7.6 million people as of April 1. The Puget Sound region’s population, including King, Snohomish, Pierce, and Kitsap counties, grew by more than 60,800. According to OFM, most of the population change occurred before the COVID-19 crisis.

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.

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Contact: data@mbaks.com

Builder Confidence Remains Low in August

Builder confidence in the housing market slipped to 32 nationally in August, an 18% decline from last year, according to the NAHB/Wells Fargo Housing Market Index. In the West, sentiment was even weaker, with an HMI reading of 26, underscoring the region’s ongoing affordability and housing challenges. 

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