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February 2026 Builders Bulletin: Housing Inventory Rises

Mortgage interest rates continued to trend lower in January as housing inventory for sale increased. While this shift offers some relief for homebuyers, other indicators in the February Builders Bulletin point to continued headwinds for the housing market, including higher unemployment in Washington state and the Seattle region in December and declining builder confidence in January.

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By MBAKS Senior Policy Analyst Allison Butcher

Single family permits are down 10 percent in the Seattle metro area the first 9 months of the year, compared to the same period last year. The single family permit decline is led by Snohomish County, which is down 25 percent, followed by Pierce County, which is down 14 percent. Within the three-county metro area, the only county to see a slight increase in single family permits through September 2018 was King County, where permits were up four percent.

Meanwhile, multifamily permits are up three percent throughout the metro area. While King County saw a nine percent decline in multifamily permits during the first three quarters of 2018, Snohomish County has experienced an 80 percent increase in multifamily permit activity, and Pierce County is up 35 percent.

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

Bellevue, Wash—June 22, 2016—The Master Builders Association of King and Snohomish Counties and Regence BlueShield will volunteer for Habitat for Humanity Seattle-King County's "La Fortuna" townhome community in Renton, a 3-Star Built Green® property. Volunteers will focus on unmasking floors, installing appliances, painting, and cleaning in preparation for the homeowner dedication on July 16, 2016. At that time, eight low-income families will receive the keys to their new homes and a better future.

La Fortuna residents will include U.S. military veterans, Americans who were once refugees from war-torn countries, and others who came to our region in search of a better life for their families. The future homeowners have worked together as friends and neighbors to help build and create this community.

Habitat for Humanity's vision of creating "a world where everyone has a decent place to live" is shared by the Master Builders Association of King and Snohomish Counties and Regence BlueShield. This vision, and the idea that affordable housing should be accessible to all families—including low-income, middle class, and those struggling with homelessness—has led Regence and the MBA to form ongoing partnerships with this organization.

Schedule—Wednesday, June 22, 8:45 a.m. to 1 p.m.

• 8:45 a.m.: Check-in. Distribute protective equipment.
• 9:00 a.m.: Safety orientation, description of work assignments.
• 9:15 a.m.: Work under the instruction of Habitat site staff.
• 12:45 p.m.: Cleanup
• Location: Habitat for Humanity Seattle-King County's La Fortuna New Construction community in Renton, 17286 127th Ave. SE, Renton, WA 98058

About Habitat for Humanity Seattle-King County

Habitat for Humanity SKC is an affiliate of Habitat for Humanity International, a nonprofit housing organization that brings people together to build homes, communities, and hope. Habitat SKC is dedicated to eliminating substandard housing through constructing, renovating, and preserving affordable homes, and by providing training and access to resources to help families improve their shelter conditions. Habitat SKC builds more than houses—we transform local communities. Habitat SKC has built renovated or repaired more than 450 homes for local families in need. For more information or to get involved, visit habitatskc.org or follow us on facebook.com/habitatskc or twitter.com/habitatskc.

About Regence BlueShield

Regence BlueShield has been serving Washingtonians in select counties for nearly a century and now provides more than 1.1 million members with comprehensive health insurance solutions. As a nonprofit independent licensee of the Blue Cross and Blue Shield Association, Regence is part of a family of companies dedicated to transforming health care by delivering innovative products and services that change the way consumers nationwide experience health care. For more information, please visit regence.com, facebook.com/regenceblueshieldwa or twitter.com/regencewa.

About the Master Builders Association

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 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 MBA for industry professional referrals and practical information to get the job done. mbaks.com

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