Wondering who has it best in Western Washington and the Pacific Northwest? Look no further than our phenomenal membership base. 

Every year, Seattle Business magazine puts out their list of the 100 best companies to work for, based on anonymous employee survey responses as picked from 10 categories: corporate culture, executive leadership, benefits, communication, hiring/retention, performance standards, responsibility/decision making, rewards/recognition, training/education, and workplace environment. 

Response scores are then calculated and averaged out, and companies ranked in four categories: small, midsize, large, and those headquartered outside Washington state. 

Which employees are smiling away at their standup desks flanked by exotic popcorn machines and flashy breakroom games where they can count their 401Ks? We’re proud to announce that 21 MBAKS member companies made the grade for 2018. Full disclosure, we were a little perturbed Seattle Business magazine didn’t expand the list to 3,000 and put all our awesome members on the list, but there’s always next year. 

Check out the extensive list of member companies that raised the bar in 2018. 

Large Companies (150+ Employees)

• Bob’s Heating & Air Conditioning
• Clark Nuber
• Edward Jones
• Evergreen Home Loans
• Exxel Pacific
• Redfin
• Sequoya Electric
• Valley Electric
• Zillow Group

Midsize Companies (50–149 Employees) 

• American Income Life
• Andersen Construction
• Berntson Porter & Company
• Gravity Payments
• Pacific Capital Resource Group
• Pillar Properties 
• Sweeney Conrad

Small Companies (15–49 Employees) 

• Board & Vellum
• Carlisle Classic Homes
• Chermak Construction
• Kalles Group
• Pacific Crest Savings Bank

Congratulations to all 21 of our member companies for going above and beyond! 
See the entire list at seattlebusinessmag.com

By MBAKS Senior Policy Analyst Allison Butcher

Home Prices Up Amid Continued Inventory Crunch

King and Snohomish counties continue to have less than one month's supply of housing inventory for sale. Our region's low supply coupled with strong demand is driving up home prices. The latest market summary from the Northwest Multiple Listing Service shows median home prices are up 14 percent year-over-year in both counties during February.

The Builders' Bulletin is intended to provide a convenient way to track housing in our market and includes information from the Northwest Multiple Listing Service, U.S. Census Bureau, Office of Financial Management and the Washington State Employment Security Department.

Download this month's report:

Washington state and the Puget Sound region are experiencing a significant housing supply shortage. The latest numbers from the Northwest Multiple Listing Service show that we have less than a two-week supply of homes for sale in King and Snohomish counties. For perspective, many industry analysts consider a four-to-six-month supply as an indicator of a healthy market.

The Puget Sound Regional Council has said in their Housing Needs Assessment that our four-county Puget Sound region needs 800,000 new homes by 2050 to meet the future need. For King County alone, the Regional Affordability Task Force has reported a total of 244,000 net new homes are needed by 2040 to meet demand. At this point we are already starting several hundreds of thousands of homes behind.

Why does this matter?
Limited housing supply increases the costs of homes, which makes becoming a homeowner out of reach for more community members.

According to the Northwest Multiple Listing Service January data, the median price for single-family homes in King County rose 9.46%, from $740,000 a year ago to $810,000. In Snohomish County, the median price rose 22.06%, from $573,495 to $700,000.

What created this housing supply shortage?
There are several factors that contribute to the housing supply shortage in our region and hinders our industry’s ability to add more affordable housing choices. These factors include:

• Inflation driving up the costs of building materials 

• Limited land supply on which to build

• Local development regulations not aligned with meeting the urgent need for more housing

• Permit delays

• Persistent labor shortages making is challenging to keep projects on schedule

• Supply chain disruptions

Additionally, King County is experiencing a shortage of concrete due to a nearly three-month long strike across numerous local concrete companies. Most American home foundations are concrete, along with other integral outdoor features such as pathways, stairs, and sidewalks. The inability to get concrete to builders’ jobsites is inhibiting their ability to meet the demand for additional housing.

Where does MBAKS fit into this?
Driven by our mission, MBAKS is committed to ensuring all people can attain housing. One way we do this is through our advocacy work. Our government affairs team is dedicated to making sure our members have a voice in policy and regulatory debates that directly impact the housing industry. Only through our direct participation in this dialogue can we hope to create a better climate for housing.