Washington state recorded a net loss of 11,300 construction jobs from June 2024 to June 2025, marking the largest decline in the United States. The slowdown is attributed to developers retracting and banks tightening lending practices. The Seattle-Tacoma-Bellevue region saw one-third of these job losses, coinciding with a significant increase in the office vacancy rate due to rising remote work. Simultaneously, Seattle's median home price reached an all-time high of $750,000, making it the fourth highest in the nation.
Washington experienced a significant loss of 11,300 construction jobs from June 2024 to June 2025, marking the largest decline in the nation according to AGC.
Ken Simonson, AGC Chief Economist, noted that the pullback by developers and tighter lending from banks contributed to this loss of construction jobs.
The Seattle-Tacoma-Bellevue area felt about one-third of the job losses, coinciding with an office vacancy rate nearing 30% due to increased remote work.
Despite the construction job losses, the median home sale price in Seattle reached a record high of $750,000, ranking the area fourth nationally.
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