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In the Seattle Metro Area, the building permit data for the year-to-date period ending on August 31, 2023, paints a distinctive picture of the region's construction activity. There were 4,021 single-family permits issued during this time, reflecting a substantial 28% decrease compared to the same period in 2022. Similarly, the multifamily segment also saw a noteworthy decline, with 7,851 permits issued, indicating a substantial 46% decrease from the prior year. These statistics show a notable slowdown in both single-family and multifamily construction projects.

Read the full October Builders Bulletin:

By MBAKS Senior Policy Analyst Allison Butcher

Housing data contained in the latest Builders Bulletin show single-family and multifamily permits are down in the three-county Puget Sound region through February 2019, compared to the first two months of 2018. Single-family permits fell 25% and multifamily permits were down 7%. The notable exceptions are multifamily permit activity in Snohomish and Pierce counties, which rose 79% and 25%, respectively. Multifamily permits fell 24% in King County, causing the regionwide total to go negative. Meanwhile, the month’s supply of housing inventory is below two months in both King and Snohomish counties as of March.

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.

Download this month's report:

This week, Denny Conner of CRD Design Build gives us a preview of the October 21–22 Remodeled Homes Tour. Watch to learn why you should participate, whether you're a remodeler or a homeowner.

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