By MBAKS Senior Policy Analyst Allison Butcher

April marked the second month in a row in King County and the third consecutive month in Snohomish County that the month’s supply of housing inventory was below two months. While this is below the four-to-six-month level—many industry analysts consider as an indicator of a healthy market—the year-over-year gain in inventory is significant.

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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Thirty Master Builders Association of King and Snohomish Counites (MBAKS) members and government affairs staff traveled to the State Capitol on Wednesday, January 24 to advocate for housing on our annual Hill Day.

This was MBAKS’ first in-person Hill Day in Olympia since 2020, having gone virtual the past three years. MBAKS met with 31 legislators whose districts include parts of King and Snohomish counties.

“Hill Day is an excellent opportunity engage in direct dialogue with state lawmakers on our issues and build meaningful connections,” said Dylan Sluder, MBAKS’ state government affairs manager.

Members highlighted our association’s support for several pro-housing bills under consideration in the Washington State Legislature, including lot-splitting, parking flexibility, the Washington Housing Accountability Act, co-living housing, rural accessory dwelling units, Wildland Urban Interface (WUI) reform, and more.

Read MBAKS’ Core Issues to learn more about the bills members highlighted in conversations with legislators.

MBAKS also expressed our strong concerns with a bill that would ban natural gas. The bill, HB 1589, passed the House earlier in the week in a 52-44-2 vote and is now pending before the Senate.

Sluder added, “Thanks to everyone who participated and helped make the day a success! Having legislators hear from our members about why these issues matter really does make a difference.”

By Margo Greenman, 425 Business

With inventory down 25 percent, home values and rents both increasing, and more people moving to the region, the Master Builders Association of King and Snohomish Counties said the local housing market is struggling with a housing affordability crisis.

"Despite efforts to add more housing, including a rise in apartment home construction in the region, the demand for housing has significantly outpaced supply," Master Builders Association executive director Shannon Affholter said in a press release. "Lack of buildable land and other barriers to new home construction have contributed significantly to escalating housing costs and a housing supply shortage in King and Snohomish counties. Unfortunately, this is making it harder for families and workers to find attainable housing near job centers."