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The HMI was 45 nationally, while in the West the HMI was 41. While this is still below 50 and indicates pessimism about the housing market, the sentiment is slowly rising compared to months prior. The HMI is based on a monthly survey of NAHB members designed to take the pulse of the single-family housing market.

Read the full May Builders Bulletin:

By Erich Armbruster, Ashworth Homes, The Lens News

One of the biggest challenges facing our region is a lack of attainable housing, especially near job centers. Continued growth is driving the demand for more housing and the strong demand is outpacing supply, causing home prices and rents to soar. This is making housing increasingly out of reach for families and workers and threatening our area’s quality of life.

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By Allison Butcher, Master Builders Association, The Lens News

Over the past 18 months, five King County cities have adopted a building moratorium, temporarily putting the brakes on new home construction.

While a moratorium is legal, it does not mean it is good policy. At a time when demand for housing is far outpacing housing supply, which drives up both home prices and rents and makes housing less attainable, building moratoria certainly are not good for housing. They also are not good for our economy or the families and workers looking for a home closer to job centers. Furthermore, they potentially could run counter to our region's transportation investments that contemplate the need for more transit-oriented development in certain areas.