The number of multifamily permits pulled in King, Snohomish and Pierce counties rose 53 percent during the first quarter of 2017, compared to the same period last year. Single-family permits declined 8 percent. Meanwhile, King and Snohomish counties continue to see less than a months’ supply of housing inventory for sale during April.

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.

King and Snohomish counties continue to have less than one month's supply of housing inventory for sale; median home prices are up 14 percent year-over-year in both counties during February.