This week, Shannon discusses the benefits of the Built Green® program with Leah Missik, Built Green program manager.

More about Built Green

By Allison Butcher, Master Builders Association, The Lens News

Over the past 18 months, five King County cities have adopted a building moratorium, temporarily putting the brakes on new home construction.

While a moratorium is legal, it does not mean it is good policy. At a time when demand for housing is far outpacing housing supply, which drives up both home prices and rents and makes housing less attainable, building moratoria certainly are not good for housing. They also are not good for our economy or the families and workers looking for a home closer to job centers. Furthermore, they potentially could run counter to our region's transportation investments that contemplate the need for more transit-oriented development in certain areas.

Homing in on Our Region's Housing Statistics

By MBAKS Senior Policy Analyst Allison Butcher

Snohomish County’s median home price for single family homes and condos combined reached a new high of $800,000 in April. Meanwhile, the median price of a single family home in Seattle surpassed $1 million, with King County not far behind. According to data from the Northwest Multiple Listing Service, King County’s median single family home price rose to $995,000 in April, a 20% increase from a year ago.

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 April 2022

	King County had 0.69 months' supply of inventory (up from 0.65 months' of inventory a year ago).
	Snohomish County had 0.64 months' supply of inventory (up from 0.49 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

April 2022

	The median price of single-family homes and condos was $880,000 in King County and $800,000 in Snohomish County.
	For single-family homes only, the median price in King County rose 19.88%, from $830,000 a year ago to $995,000. The median price in Snohomish County rose 24.34%, from $675,000 to $839,298.
	In Seattle, the median price of single-family homes and condos was $888,000. The median price for single-family homes only was $1,019,950, a 16.57% increase from $875,000 in April 2021.

Source: Northwest Multiple Listing Service

Building Permit Activity

Jobs

	The seasonally adjusted Washington unemployment rate for April 2022 is 4.1%; for Seattle/Bellevue/Everett, it is 2.9%.
	Construction employment in Washington increased by 200 between March 2022 and April 2022. Total construction employment is 231,000 statewide and 108,100 for Seattle/Bellevue/Everett specifically.

Source: Employment Security Department: WA Employment Estimates (Seasonally Adjusted), April 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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