By MBAKS Senior Policy Analyst Allison Butcher

The Office of Financial Management (OFM) has posted its annual population update, which shows continued growth in the Puget Sound region. As of April 1, 2021, King, Kitsap, Pierce, and Snohomish counties added 66,200 people. According to The Seattle Times, the Seattle metropolitan area, which includes King, Pierce, and Snohomish counties, now exceeds 4 million people.

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.

Download this month's report:

Master Builders Association of King and Snohomish Counties (MBKAS) has once again partnered with Gelotte Hommas Drivdahl Architecture (GHDA) to produce a project for Gingerbread Village—on display now through January 1, 2025 at the Sheraton Grand Seattle.

This year’s theme is Iconic Destinations. Our project is “Vive La Paris." The display showcases many recognizable Paris landmarks and offers a few special surprises you won’t want to miss.

Project lead Eric Drivdahl designed and constructed this year’s gingerbread project with help from his talented team at GHDA and a dedicated group of volunteers.

Special thanks to MBAKS’ Mike Pattison and Allison Butcher who contributed many hours to the project and Amber Snellgrove for crafting fondant characters for the display; Joe White of Corner 2 Corner Builders Llc for building the bases for our project; MBAKS 1^st Vice President Jennifer Tennyson for volunteering during the construction phase; and our Breakthrough T1D Elf Lina and her family for their help and support from developing the design to the reveal day ceremony.

Support Breakthrough T1D and Diabetes Research
While this event is free, a $5 donation is recommended, and all proceeds go to Breakthrough T1D (formerly JDRF). You can donate online by voting for your favorite project. Please vote for Paris, France/Elf Lina to help support this great cause.

Visiting Gingerbread Village
Add to your holiday fun list by visiting our project! Viewing hours are 9am to 9pm Sunday through Thursday, and 9am to 11pm Friday and Saturday between now and New Year’s Day.

Contact: data@mbaks.com

Housing Market Shows Modest Inventory Gains Amid Rising Prices and Slowing Construction

Housing inventory in King and Snohomish counties improved slightly in March 2025 but remains below healthy market levels, with King County at 1.9 months' supply and Snohomish County at 1.4. Median home prices continued to rise, reaching $977,500 in King County and $790,000 in Snohomish County for single-family homes. Builder confidence declined sharply, with the national Housing Market Index falling 22% year over year to 40 and the Western regional index at 35. Construction activity also slowed, as single-family and multifamily permits in the Seattle metro area fell 6% and 5% respectively compared to last year, and Washington’s construction employment dropped by over 12,000 jobs.

READ THE FULL REPORT