The April 2023 population estimates have been released, highlighting a 1.1% growth since April 2022 in Washington. According to estimates from the Office of Financial Management, Washington's total population has surpassed 7.9 million residents, with a total of 4,437,100 just in the Puget Sound region. King County has witnessed the largest influx, with an addition of 30,100 individuals since last April. Snohomish County follows closely with a growth of 12,500 over the same time period.

The construction sector in Washington showed significant growth, with an increase of 5200 jobs between April 2022 and April 2023. The total employment in construction statewide reached 236,800, underscoring the industry's importance and contribution to the state's economy. Unemployment overall has remained low, with a rate of 3% in the Seattle/Bellevue/Everett area.

The HMI was 45 nationally, while in the West the HMI was 41. While this is still below 50 and indicates pessimism about the housing market, the sentiment is slowly rising compared to months prior. The HMI is based on a monthly survey of NAHB members designed to take the pulse of the single-family housing market.