King County multifamily construction is on the upswing after three months of depressed permits following the implementation of the 2018 Energy Code. 91.7% of those multifamily units—and all of the multifamily growth in King County—are in buildings with five or more units; permits for two- to four-unit housing remain low. King County single-family permits have also hit a high for the year, although it is slightly lower than permit numbers at the same time last year. With less than one month of supply in both King and Snohomish counties, more housing production is desperately needed.

Housing inventory remains low and housing prices continue to rise, with a 19.73% and 21.74% increase in median single-family home prices in King County and Snohomish County, respectively. In more optimistic news, construction employment in the Seattle-Bellevue-Everett metro area has hit a record high. Plus: Building permit activity is now available in an interactive format.

The Office of Financial Management (OFM) has posted its annual population update, which shows continued growth in the Puget Sound region. As of April 1, 2021, King, Kitsap, Pierce, and Snohomish counties added 66,200 people. According to The Seattle Times, the Seattle metropolitan area, which includes King, Pierce and Snohomish counties, now exceeds 4 million people.