By MBAKS Senior Policy Analyst Allison Butcher

Data on jobs released by the Puget Sound Regional Council recently show the four-county region added 362,800 jobs between 2010 and 2017. At this pace, the region continues to add more than three jobs for every housing unit, placing continued strong demand on housing.

As this month’s Builder’s Bulletin shows, we’re seeing more of the same with a very low inventory of homes for sale and rising home prices in King and Snohomish counties. Meanwhile, King, Snohomish, and Pierce counties experienced a 32 percent decrease in multifamily permits the first two months of this year, compared to the same period last year. Single family permits are up 10 percent in King and Pierce counties and down 22 percent in Snohomish County.

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.

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Contact: data@mbaks.com

Builder Confidence Dips as Industry Gauges Market Conditions

Builder confidence continues to falter, with the national Housing Market Index (HMI) falling to 32, a 29% drop year over year. Confidence in the Western U.S. remains especially low, with an HMI of just 22. The HMI, based on a monthly NAHB survey, reflects how builders view current and future conditions in the single-family housing market.

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By MBAKS Senior Policy Analyst Allison Butcher

The median price of single-family homes and condos (combined) was $612,000 in King County and $471,747 in Snohomish County in November 2019, according to the latest numbers from the Northwest Multiple Listing Service. This reflects a year-over-year increase of 1.16% and 4.83%, respectively.

The Builder's 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: