Despite a modest increase in housing inventory for sale in King and Snohomish counties during September—reaching the highest levels seen all year with 1.13 and 1.26 months’ supply of inventory respectively—these figures are still well below the four-to-six month range that many industry analysts consider to be an indicator of a healthy market.

Looking at the three-county Seattle Metro Area, Pierce is the only county to see permit activity rise through July 31 of this year, compared to the same period last year. The latest permit data from the U.S. Census Bureau show single family permits rose 13 percent and multifamily permits doubled in Pierce County.

The September Builder's Bulletin shows signs that our region's housing supply and demand continues to be out of balance, with housing inventory for sale hovering around one-month's supply in King and Snohomish counties and home prices still on the rise.