By MBAKS Senior Policy Analyst Allison Butcher

Housing data contained in the latest Builders Bulletin show single-family and multifamily permits are down in the three-county Puget Sound region through February 2019, compared to the first two months of 2018. Single-family permits fell 25% and multifamily permits were down 7%. The notable exceptions are multifamily permit activity in Snohomish and Pierce counties, which rose 79% and 25%, respectively. Multifamily permits fell 24% in King County, causing the regionwide total to go negative. Meanwhile, the month’s supply of housing inventory is below two months in both King and Snohomish counties as of March.

The Builder's Bulletin is intended to provide a convenient way to track housing in our market and includes information from the Northwest Multiple Listing Service, State of the Cities Data Systems, Office of Financial Management and the Washington State Employment Security Department.

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