By Mike Richards, The Lens

Washington state lawmakers are indicating that a priority in the 2017 session will be mitigating or reversing a recent State Supreme Court ruling seen as effectively barring development on properties where well water is required.

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By MBAKS Senior Policy Analyst Allison Butcher

June housing data from the Northwest Multiple Listing Service show a growing inventory of homes for sale, with 1.34 months’ supply available in both King and Snohomish counties. This marks the first time the housing measure has exceeded one month’s supply since September 2020 in King County and May 2020 in Snohomish County. While this moves us toward greater balance in the market, many analysts consider a four-to-six-month level as an indicator of a healthy market.

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By MBAKS Senior Policy Analyst Allison Butcher

The housing and economic indicators featured in this month’s Builders Bulletin reflect the state of the market just prior to the start of the COVID-19 crisis in the Puget Sound region. It shows housing inventories still very low in our two counties, with 1.17 months’ supply in King County and 0.93 months’ supply in Snohomish County. Data from the Northwest Multiple Listing Services also show median home prices holding steady in February—$615,000 in King County and $494,263 in Snohomish County. The February unemployment rate was a near record-low 2.6% for Seattle/Bellevue/Everett and statewide construction employment was 225,200.

The Builder's Bulletin is intended to provide a convenient way to track housing in our market and includes information from the Northwest Multiple Listing Service, State of the Cities Data Systems, Office of Financial Management and the Washington State Employment Security Department.

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