Washington state experienced significant job losses in construction, totaling 11,300 from June 2024 to June 2025, the highest in the nation. This decline is attributed to reduced developer activity, stricter bank lending, and a rise in remote work affecting office space demand. The Seattle-Tacoma-Bellevue area bore the brunt of these losses, as office vacancy rates surged to nearly 30%. Conversely, the region's median home price reached an all-time high of $766,725, ranking third in the country for median home sale prices.
Washington saw a reduction of 11,300 construction jobs from June 2024 to June 2025, making it the state with the largest losses in that period.
AGC Chief Economist Ken Simonson indicated that developers have reduced their activity and banks may have tightened lending, impacting construction jobs.
Construction job losses were primarily focused in the Seattle-Tacoma-Bellevue area, which experienced a significant climb in office vacancy rates to nearly 30% due to remote work.
Despite declining construction jobs, the median sale price of homes in the Seattle area rose to an unprecedented $766,725, ranking third nationally.
Collection
[
|
...
]