By MBAKS Senior Policy Analyst Allison Butcher

Housing Inventory Still Well Below Healthy Levels

Despite a modest increase in housing inventory for sale in King and Snohomish counties during September—reaching the highest levels seen all year with 1.13 and 1.26 months’ supply of inventory respectively—these figures are still well below the four-to-six month range that many industry analysts consider to be an indicator of a healthy market. The continued high demand and low supply is driving year-over-year price hikes of more than 14 percent in both counties.

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:

By Shannon Affholter, The Everett Herald

Despite numerous legislative efforts to find a permanent and balanced solution to address the Washington state Supreme Court's Hirst decision, lawmakers in Olympia remain deadlocked on the issue. Unfortunately, the legislature adjourned on Thursday without reaching an agreement.

The 2016 Hirst decision has effectively halted many people from building their homes in areas that depend on well water. The ruling has created a great deal of uncertainty for counties, rural communities, builders, and families across the state. As legislators leave town, the hardship on affected property owners will continue without being resolved.

Shannon talks to Luellen Smith of Rhino Wine Cellars & Cooling Systems, this year's REX/T-REX Awards Chair and Associate of the Year, about REX and getting involved in our councils.

Learn more about our councils