Data in the latest Builders Bulletin show a mixed bag for building permit activity in the first half of 2022. Separately, the NAHB/Wells-Fargo Housing Market Index, which measures the confidence of single-family builders nationwide, has been falling amid higher interest rates and ongoing supply chain problems.

June housing data from the Northwest Multiple Listing Service show a growing inventory of homes for sale, with 1.34 months’ supply available in both King and Snohomish counties. While this moves us toward greater balance in the market, many analysts consider a four-to-six-month level as an indicator of a healthy market.

The Office of Financial Management (OFM) released its annual population estimates this week for the state of Washington and its counties, cities, and towns. The report shows that as of April 1, 2022, the Puget Sound region’s population is 4,383,300, an annual increase of 52,550.