Homing in on Our Region's Housing Statistics

Multifamily permits jumped again in King County—a 113% increase over the average for the last 12 months. King County was joined this month by a spike in Pierce County multifamily permits (247% over average) and modest growth in Snohomish County multifamily permits (8% over average). 51% of housing permitted for the month in the three-county region was in buildings in King County with five or more units. Two-unit building permits are also up 87% over average in King County, possibly due to local ADU policy reforms. Single-family permits remain fairly stable, with slight month-over-month increases in Snohomish and Pierce that are nonetheless at or below the 12-month average for those counties. 

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Months' Supply of Housing Inventory

As of September 2021

	King County had 0.68 months' supply of inventory (down from 1.12 months' of inventory a year ago).
	Snohomish County had 0.48 months' supply of inventory (down from 0.56 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

September 2021

	The median price of single-family homes and condos was $745,000 in King County and $650,000 in Snohomish County.
	For single-family homes only, the median price in King County rose 9.55%, from $753,600 a year ago to $825,600. The median price in Snohomish County rose 18.42%, from $569,997 to $675,000.
	In Seattle, the median price of single-family homes and condos was $765,000. The median price for single-family homes only was $850,000, a 3.66% increase from $820,000 in September 2020.

Source: Northwest Multiple Listing Service

Building Permit Activity

Jobs

	The seasonally adjusted Washington unemployment rate for September 2021 is 4.9%; for Seattle/Bellevue/Everett, it is 4.8%.
	Construction employment in Washington increased by 3,600 between August 2021 and September 2021. Total construction employment is 229,500 statewide and 110,000 for Seattle/Bellevue/Everett specifically.

Source: Employment Security Department: WA Employment Estimates (Seasonally Adjusted), September 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: data@mbaks.com

April 2026 Builders Bulletin
The April Builders Bulletin includes data from the January jobs report recently released by the Employment Security Department. Washington’s unemployment rate for January was 5.0% while the Seattle region’s rose to 5.2%. That is up from 4.4% and 4.3% respectively a year ago. Meanwhile, the Housing Market Index, which measures builder confidence, held steady at 30 in the Western region as of March.

DOWNLOAD THE REPORT

FOR IMMEDIATE RELEASE
Media Contact:
Sharon Couts
Master Builders Association of King and Snohomish Counties
425.499.1723

Governor Signs into Law Permit Process Improvements to Help Housing

New Law Will Create Efficiencies in the Final Plat Approval Process for Subdivisions

Bellevue, Wash—April 27, 2017—Governor Jay Inslee today signed into law Senate Bill 5674, providing a local option to allow administrative approval of the final plat process. The bill, sponsored by Senator Guy Palumbo (D-1st District) and Senator Joe Fain (R-47th District), will provide significant efficiencies in many jurisdictions where it can take a long time to get a final plat through the legislative process.

Shannon Affholter, executive director of the Master Builders Association of King and Snohomish Counties, explained why the bill is one of the Association's top legislative priorities: "Allowing local governments to delegate final plat approval to planning directors or other designated authorities will save our members weeks or even months of delay in getting on Council agendas for final approval in what is largely a pro forma action," he said.

"The new law is a positive step forward for housing affordability because it will bring greater efficiency to the permit process," Affholter added. "In homebuilding, time is money. Anything that reduces unnecessary delays in the permit process helps to lower another cost pressure on housing."

The preliminary plat application provides an opportunity to appeal, so making the final plat approval process administrative will not remove the opportunity for public input or appeal.

About MBAKS

Founded in 1909, the Master Builders Association of King and Snohomish Counties (MBA) has grown to become the largest residential homebuilders association in the United States. With more than 2,800 member companies, the Association is dedicated to membership value, government advocacy, financial stewardship, and promoting the residential building industry in the Puget Sound Region. The Association and its members address many of the concerns and issues affecting the residential housing industry. If you are looking to buy, build, remodel, or maintain your home, trust the MBA for industry professional referrals and practical information to get the job done. mbaks.com

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