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Homing in on Our Region's Housing Statistics

By MBAKS Senior Policy Analyst Allison Butcher

The Seattle metropolitan area saw a significant increase in multifamily permit activity in 2021 compared to the previous year, led by King and Pierce counties—up 71% and 31% respectively. More than 22,000 multifamily permits were issued in the three-county metro area last year, surpassing pre-pandemic levels of fewer than 19,000 multifamily homes in 2018 and 2019. Single family permits were also up 24% in Pierce County year-over-year. Meanwhile, Snohomish County had a modest decrease in permits last year compared to 2020. King County ended the year down 8% for single family permits.

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 January 2022

	King County had 0.49 months' supply of inventory (down from 0.92 months' of inventory a year ago).
	Snohomish County had 0.33 months' supply of inventory (down from 0.41 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

January 2022

	The median price of single-family homes and condos was $720,000 in King County and $686,792 in Snohomish County.
	For single-family homes only, the median price in King County rose 6.90%, from $725,000 a year ago to $775,000. The median price in Snohomish County rose 19.17%, from $599,990 to $715,000.
	In Seattle, the median price of single-family homes and condos was $729,000. The median price for single-family homes only was $790,000, a 0.19% decrease from $791,471 in January 2021.

Source: Northwest Multiple Listing Service

Building Permit Activity

Jobs

	The seasonally adjusted Washington unemployment rate for January 2022 is 4.4%; for Seattle/Bellevue/Everett, it is 3.5%.
	Construction employment in Washington increased by 500 between December 2021 and January 2022. Total construction employment is 228,100 statewide and 101,900 for Seattle/Bellevue/Everett specifically.

Source: Employment Security Department: WA Employment Estimates (Seasonally Adjusted), January 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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Cybersecurity can be a scary subject. We get it. It’s daunting and something you just want to ignore in hopes that nothing bad will happen to you.

Sorry friend, this subject is all TOO real to ignore. But we’re here. We got you.

We want to give you the knowledge to protect yourself from phishing attacks, ransomware, and other online scams. So here we go! But to start, a chilling reminder of our recent past:

• June 2018, MyHeritage—more than 92 million email addresses and HyHeritage account passwords were compromised.
• April 2018, The Facebook data breach—this was one of the largest misuses of personal data in history! In fact, just last month, Facebook revealed that 15 MILLION people had their personal info accessed by hackers.
• March 2018, Under Armour’s MyFitnessPal App—an “unauthorized party” gained access to 150 million user names, emails, and encrypted passwords from users of the fitness tracking app.
• July 2017, Equifax data breach—a quick calculation tells us that the 143 million potentially affected makes up a full 44 percent of the country’s total adult population.
• May 2017, WannaCry ransomware attack—this attack will go down in the books as one of the most successful malware campaigns in history.

So yeah, now more than ever you need to be educating yourself about how preventive cybersecurity strategies can keep you safe in a digital world of malicious criminals and hackers.

Cybersecurity awareness tips

1. Enable two-factor authentication
   1. This will make it harder for someone to access any of your accounts.
   2. This added layer of security can make a big impact.
2. Check a website’s SSL Certificate before using
   1. This will ensure the website is safe to use.
   2. Beware—hackers can copy a safe site if you click on a malware link. For example, links found in phishing emails.
3. Never save credit card information online
   1. This is a great basic tip to keep your bank account information secure.
   2. If that site is ever compromised, your card information will be, too.
4. Up your password game
   1. Think of a long password (10+ characters). Using a sentence instead of random letters is much more efficient. For example: eattacosonthe9th!!
   2. Never use the same password on different accounts.
   3. Never write down your passwords and store in a Word file; use password vault software instead.
5. Think twice before clicking an email link
   1. Not all links are created equal. Some seemingly safe links can wreak havoc.
   2. Phishing emails are becoming harder to detect. Look into social engineering training.

These basic tips can help you, your employees, and your business stay more protected when using your computer.

Emerald City Solutions is an information security company offering high-grade, professional IT business solutions using cutting-edge technology to help our customers modernize their business, protect valuable assets, and improve business connectivity. For more tips and tricks, check out Emerald City Solutions’ weekly blog or give them a call at 206.340.1616 to learn more about IT and cybersecurity services for your business.