Contact:
Stephanie Giralmo, Public Relations & Media Manager
Master Builders Association of King and Snohomish Counties
p 425.457.7067

FOR IMMEDIATE RELEASE

MBAKS Establishes Two NAHB Student Chapters as Part of Their Emerging Professionals Initiative

BELLEVUE, Wash., October 31, 2022—The Master Builders Association of King and Snohomish Counties (MBAKS) announced today the official establishment of two NAHB Student Chapters in partnership with Edmonds College Construction Management and Seattle College Wood Technology Center. MBAKS will be the first local home building association in Washington state to have active NAHB Student Chapters in 2022.

As part of the Emerging Professionals program, these student chapters will allow participants to become student members of MBAKS, which, in addition to other benefits, provides complimentary access to events and networking opportunities with local building professionals. This program will bring awareness to field-based education, training opportunities and address the urgent need for qualified trade professionals in our industry.

“These NAHB Student Chapters are integral, vital parts of our comprehensive, ground-breaking Emerging Professionals initiative,” said Colby Goodman, MBAKS Director of Membership and Councils. “Additionally, they serve as a testament to the commitment by MBAKS to a meaningful workforce development strategy and the future of the homebuilding trades.”

MBAKS is an active, contributing partner to the BIAW Workforce Development Task Force and is a pioneer, along with other Washington local home building associations, in addressing the need to foster talent for the future of the building industry. Currently, MBAKS has plans to establish two more NAHB Student Chapters with Sno-Isle TECH and Lake Washington Institute of Technology, with the expectation of formalization of those chapters by years’ end.

About MBAKS

Founded in 1909 and headquartered in Bellevue, Washington, the Master Builders Association of King and Snohomish Counties (MBAKS) is the nation’s oldest and largest local homebuilders’ association. Like our founders, our members continue to take a leading role in all facets of homebuilding and support the planning for a growing region. From new technology to advances in sustainability, from collaborative public policy efforts to investing in our communities, our commitment to a thriving, inclusive and well-planned region never wavers. We are the professional homebuilders, architects, remodelers, tradespeople (carpenters, framers, roofers, plumbers, electricians), planners and engineers, suppliers, manufacturers, and sales and marketing professionals in your community who believe everyone deserves access to a healthy and productive place to call home.

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On October 13, MBAKS hosted our annual Housing Solutions Breakfast at the W Hotel in Bellevue. The sold-out event drew 200+ attendees — including elected officials, industry leaders, city staff and housing partners — and focused on opening the door for the next generation.

MBAKS unveiled our Housing Toolkit at the event, highlighting practical solutions to help build more homes and ensure everyone in our region has a place to call home. Executive Director Jerry Hall said, “We don’t need more studies on housing to know we must act with urgency now to deliver the homes our communities need.” 

The breakfast featured Challenge Seattle CEO and former Washington Governor Christine Gregoire as keynote speaker, who shared her insights on keeping Puget Sound strong and competitive. Her remarks reinforced the need for clear standards and predictable timelines to lower costs and meet our region’s housing needs, as well as the importance of partnerships in this work.

Attendees also heard from Governor Bob Ferguson’s Senior Housing Policy Advisor Em Stone about the need to remove barriers to housing and why this work matters so much. Stone shared that in two legislative sessions as Governor, Ferguson has signed more than 50 housing-related bills into law and is working to elevate housing as a cabinet-level agency in Washington.

Finally, each year at our Housing Solutions Breakfast, MBAKS acknowledges the incredible contributions of the nonprofit organizations we collaborate with — each playing a key role in opening doors to housing. Congratulations to Habitat for Humanity Seattle-King & Kittitas Counties for being this year’s recipient in recognition of their work providing first-time homeownership opportunities for so many community members and advocacy on behalf of housing.

View Housing Solutions Breakfast Photos

Homing in on Our Region's Housing Statistics

Severe shortages of housing inventory for sale continued in December, with only 0.27 months’ supply (about one week) in King County and 0.20 months’ supply (less than a week) in Snohomish County. This represents a decline from the previous month and year-over-year. The snow and cold temperatures also impacted home sales in December, according to the Northwest Multiple Listing Service.

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 December 2021

	King County had 0.27 months' supply of inventory (down from 0.63 months' of inventory a year ago).
	Snohomish County had 0.20 months' supply of inventory (down from 0.26 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

December 2021

	The median price of single-family homes and condos was $749,000 in King County and $679,950 in Snohomish County.
	For single-family homes only, the median price in King County rose 9.46%, from $740,000 a year ago to $810,000. The median price in Snohomish County rose 22.06%, from $573,495 to $700,000.
	In Seattle, the median price of single-family homes and condos was $762,475. The median price for single-family homes only was $839,000, a 4.88% increase from $799,950 in December 2020.

Source: Northwest Multiple Listing Service

Building Permit Activity

Jobs

	The seasonally adjusted Washington unemployment rate for December 2021 is 4.5%; for Seattle/Bellevue/Everett, it is 4.1%.
	Construction employment in Washington increased by 1,300 between November 2021 and December 2021. Total construction employment is 231,400 statewide and 109,200 for Seattle/Bellevue/Everett specifically.

Source: Employment Security Department: WA Employment Estimates (Seasonally Adjusted), December 2021 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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