By MBAKS Senior Policy Analyst Allison Butcher

Seattle Metro Area Sees Uptick in Single Family Permits in 2016

King County ended 2016 with a 7 percent increase in single-family permit activity compared to 2015 and a 7 percent decline in multifamily permits, according to U.S. Census Bureau data. Meanwhile, Snohomish County saw a 13 percent increase in single family permits and a 2 percent increase in multifamily permits at year's end. Both counties continued to have less than one month's supply of housing inventory for sale during January 2017.

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, U.S. Census Bureau, Office of Financial Management and the Washington State Employment Security Department.

Download this month's report:

By MBAKS Senior Policy Analyst Allison Butcher

Home Prices Continue Upward Climb

Median single family home prices surged nearly 14 percent in King and Snohomish counties in June compared to a year ago, according to the Northwest Multiple Listing Service (MLS). The median price was $653,000 in King County and $450,000 in Snohomish County. In Seattle the median single family home price rose 12.53 percent to $750,000.  Meanwhile, with 0.84 months’ supply of housing inventory, King County continued to have the tightest inventory of the 23 counties in the Northwest MLS market area. 

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, U.S. Census Bureau, Office of Financial Management and the Washington State Employment Security Department.

Download this month's report:

Contact: data@mbaks.com

While our local inventory is rising, we are still the lowest in Washington State, with the state average at 2.17. Months of inventory in June 2024 were Snohomish (1.37), King (1.94), and Pierce (2.00). As the inventory grows, it is evident that mortgage rates are a large player in affordability regarding housing market worries.

Read the full July Builders Bulletin: