By MBAKS Senior Policy Analyst Allison Butcher

Statistics from the Northwest Multiple Listing Service, highlighted in the October Builder’s Bulletin, show an increasing supply of homes for sale in the month of August. King County had 1.92 months’ supply of inventory, up from 0.93 months’ supply a year ago. Snohomish County had 1.70 months of inventory, up from 1.11 a year ago. This increase in supply, while still low, has moderated price increases.

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:

Homing in on Our Region's Housing Statistics

Housing inventory remains low and housing prices continue to rise, with a 19.73% and 21.74% increase in median single-family home prices in King County and Snohomish County, respectively. In more optimistic news, construction employment in the Seattle-Bellevue-Everett metro area has hit a record high.

Please contact data@mbaks.com with questions or feedback. 

Months' Supply of Housing Inventory

As of July 2021

	King County had 0.66 months' supply of inventory (down from 1.13 months' of inventory a year ago).
	Snohomish County had 0.53 months' supply of inventory (down from .73 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

July 2021

	The median price of single-family homes and condos was $789,000 in King County and $675,000 in Snohomish County.
	For single-family homes only, the median price in King County rose 19.73%, from $727,500 a year ago to $871,000. The median price in Snohomish County rose 21.74%, from $575,000 to $700,000.
	In Seattle, the median single-family home price for July was $896,500, an 11.37% increase from July 2020.

Source: Northwest Multiple Listing Service

Building Permit Activity

Jobs

	The Washington unemployment rate for July 2021 is 5.1%; for Seattle/Bellevue/Everett, it is also 5.1%.
	Construction employment in Washington increased by 1,900 between June 2021 and July 2021. Total construction employment is 226,700 statewide and 110,800 for Seattle/Bellevue/Everett specifically.

Source: Employment Security Department: WA Employment Estimates (Seasonally Adjusted), July 2021 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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Contact:
Stephanie Giralmo, Public Relations & Media Manager
Master Builders Association of King and Snohomish Counties
p 425.457.7067

FOR IMMEDIATE RELEASE

MBAKS Builds Ramps to Give Mobility Freedom to Those in Need

BELLEVUE, Wash., May 23, 2022—Since 1993 the Master Builders Association of King and Snohomish Counties (MBAKS) has built almost 600 wheelchair access ramps for families in need. Built by MBAKS members and community volunteers, these ramps provide a much-needed benefit for those who struggle to get themselves or their loved ones safely in and out of their homes.

“As one of our signature community stewardship programs, Rampathon is something we look forward to every year,” says Jerry Hall, Executive Director at MBAKS. “I have so much gratitude for our members, who lend their free time and knowledge to provide mobility freedom to individuals and families within our community.”

MBAKS is planning to build 27 mobility ramps for deserving families across King and Snohomish Counties this year. As part of this effort, they showcased Francisco Avila-Mooney, an 8-year-old who is wheelchair-bound and has multiple equipment needs for his therapy and care. At the time of the showcase, the Avila-Mooney Family did not have a ramp, which made it difficult to get Francisco out of the house. However, thanks to the efforts of MBAKS member, Shirey Home Pro, the family now has a new ramp that aids in ease of mobility and safety, making it easier to transport Francisco to and from his appointments.

In addition to the 22 member companies that volunteered to be a part of this year’s program, long-time program sponsor Dunn Lumber supplied the lumber at no cost and BECU provided funding as the Community Sponsor.

“MBAKS has been working tirelessly since 1909 to support builders who build homes for our communities and provide attainable homes for all,” said Traci Tenhulzen, MBAKS Board President and Executive Producer at Tenhulzen Residential. “It is a pleasure to be a part of an association that provides this invaluable service of universal access to those in need. Tenhulzen Residential has been building ramps for Rampathon since the program began and we look forward to building our 33rd ramp this summer.”

About MBAKS

Founded in 1909 and headquartered in Bellevue, Washington, the Master Builders Association of King and Snohomish Counties (MBAKS) is the nation’s oldest and largest local homebuilders’ association. 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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