Master Builders Association of King and Snohomish Counties (MBAKS) members, elected officials, and city staff gathered at the Bellevue Club on May 20 for our annual King County Elected Officials Reception. 

The event featured remarks from special guest Redmond Mayor Angela Birney, who highlighted steps the city has taken to expand housing choices. Redmond has been working to lower barriers to the full spectrum of homes needed to meet residents’ needs as the city grows and to leverage its access to light rail.

Attendees also heard from Dalton Smith — MBAKS’s King County Builders Council Chair and Director of Land Operations at Conner Homes — who reinforced that our members want to be partners with local jurisdictions in our shared work to make home happen.

Housing Champion Awards

MBAKS recognized Mayor Birney and Redmond’s Planning & Community Development Director Carol Hellend with Housing Champion Awards for their dedicated work on behalf of housing over the years. In presenting the awards, MBAKS Government Affairs Director Jennifer Anderson commended Mayor Birney and Director Hellend for being valued partners and leaders on housing.

Key Takeaways

Executive Director Jerry Hall closed the program with reminders about the importance of weighing the impacts of each new policy on housing and considering whether it will help or hinder the ability to build new homes.

In case you missed it, see our Middle Housing Barriers & Solutions resource we shared at the event, designed to help local communities facilitate a range of housing types. And learn more about our Room for What Matters campaign.

Thank you to all the elected officials from across the region, city staff, and MBAKS members who joined us for this fun and informative gathering. If you missed this event, there’s still time to register for the Snohomish County Elected Officials Reception – June 17, 4:30–6:30 p.m. at Rosehill Community Center, Mukilteo.

The winners of the 2017 NAHB Association Excellence Awards were recently unveiled and the Master Builders Association of King and Snohomish Counties is proud to announce we have been honored with two awards. 

The country’s largest and oldest local homebuilders association won Best HBA Partnership/Coalition in the HBA Operations category, as well as Best Publication (print or electronic) in the Communications category, the latter for Master Builder magazine. 

The Building Industry Association of Washington, our state-level partner association, also won an AEA for Best Regional Government Affairs Effort for their "Fix Hirst" campaign.

The annual AEA Awards recognize HBAs across the country for their outstanding accomplishments at the state and local levels, as well as HBA executive officers in the field of association management. 

Congratulations to all who helped MBAKS win these distinguished awards! View the full list of 2017 AEA winners.

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Homing in on Our Region's Housing Statistics

By MBAKS Senior Policy Analyst Allison Butcher

Data from the Northwest Multiple Listing Service show King and Snohomish counties had less than two weeks of supply of homes for sale in March, while home prices continued to escalate. Meanwhile, single-family permits for King, Snohomish, and Pierce counties combined stood at 1,259 through February, with 3,039 multifamily units permitted in the three counties during the same two-month period.

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 March 2022

	King County had 0.49 months' supply of inventory (down from 0.60 months' of inventory a year ago).
	Snohomish County had 0.42 months' supply of inventory (up from 0.28 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

March 2022

	The median price of single-family homes and condos was $838,753 in King County and $758,707 in Snohomish County.
	For single-family homes only, the median price in King County rose 12.73%, from $824,997 a year ago to $930,000. The median price in Snohomish County rose 25.00%, from $640,000 to $800,000.
	In Seattle, the median price of single-family homes and condos was $865,000. The median price for single-family homes only was $970,000, a 17.58% increase from $825,000 in March 2021.

Source: Northwest Multiple Listing Service

Building Permit Activity

Jobs

	The seasonally adjusted Washington unemployment rate for March 2022 is 4.2%; for Seattle/Bellevue/Everett, it is 3.1%.
	Construction employment in Washington increased by 1,300 between February 2022 and March 2022. Total construction employment is 231,200 statewide and 106,900 for Seattle/Bellevue/Everett specifically.

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