By Allison Butcher, MBA Senior Policy Analyst
Supply of Homes for Sale Struggling to Keep Up with Demand
With our region’s continued strong demand for housing, King and Snohomish counties’ supply of housing inventory for sale fell to just three weeks. That is notably low in light of the fact that many analysts consider a four-to-six month level as an indicator of a healthy market. Meanwhile both counties continued to see double-digit, year-over-year single family home price increases, reaching $425,000 in Snohomish County and nearly $600,000 in King County during March. In Seattle, the median single family home price rose to $700,000.
The Builders’ Bulletin is intended to provide a convenient way to track housing in our market and includes information from the Northwest Multiple Listing Service, U.S. Census Bureau, Office of Financial Management and the Washington State Employment Security Department.